Babylon Holdings Ltd: debt financing — Babylon Holdings secures $34.5M bridge, plans take-private with zero consideration for equity holders

Babylon Holdings Ltd

Up to $34.5M additional secured bridge loan from AlbaCore; funded in three tranches with 15% OID.
Bridge facility amended to remove operational milestones; new covenants and events of default added.
Framework Implementation Agreement signed to restructure and take private core operating subsidiaries via administration.
Take Private Proposal expected to provide no consideration to Babylon's Class A ordinary shareholders.
Proceeds from additional funding to support operations; take-private implementation targeted June 2023.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Babylon Holdings Ltd incurred term loan of up to $34,500,000 with certain affiliates of, or funds managed and/or advised by, AlbaCore Capital LLP.

Instrument: term loan
Principal: up to $34,500,000
Counterparty: certain affiliates of, or funds managed and/or advised by, AlbaCore Capital LLP
Event: incurrence

Exact text from the filing

the Bridge Noteholders agreed to provide further secured debt financing in the form of an additional senior secured term loan notes facility (the “Additional Bridge Facility”) in an additional aggregate principal amount of up to $34,500,000

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Babylon Holdings Ltd amended Amendment and Restatement Agreement with certain AlbaCore Bridge Notes Subscribers valued at up to $34,500,000 (effective 2023-05-10).

Action: amendment
Agreement: credit facility
Counterparty: certain AlbaCore Bridge Notes Subscribers
Value: up to $34,500,000
Effective: 2023-05-10

Exact text from the filing

Pursuant to the Amended Bridge Facility Agreement, the Bridge Noteholders agreed to provide further secured debt financing in the form of an additional senior secured term loan notes facility

View on SEC.gov

Browse all debt financings →

Source: SEC EDGAR

accession 0001866390-23-000084

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.