debt
confidence high
sentiment neutral
materiality 0.55
Siebert Financial enters $20M revolving credit facility with East West Bank
SIEBERT FINANCIAL CORP
- Revolver cap of $20M with initial two‑year term; interest rate at SOFR + 3.15% (floor 7.50%).
- Proceeds allowed for acquisitions, stock buybacks, and up to $10M for general corporate purposes.
- Personal guarantees from CEO John J. Gebbia, Director Gloria E. Gebbia, and their trust.
- Covenants include minimum debt service coverage ratio of 1.35:1 and minimum net capital of $43M.
- Origination fee 0.50% of the $20M revolver cap; Bank may debit fees from advance or deposit account.