Loan & DebtOct 30, 2026, 10:56 AM
Nuran Wireless Secures US$10M Revolving Credit Facility
AI Summary
Nuran Wireless Inc. has entered into a secured revolving credit agreement for a maximum principal amount of US$10,000,000. The facility, effective October 29, 2026, with a maturity date of January 1, 2028, is intended for general working capital and operating requirements. The agreement involves guarantees and security from Non-African Subsidiaries, while African Subsidiaries are carved out. The facility carries an interest rate of [***]% per annum, with provisions for default interest and various fees.
Key Highlights
- Nuran Wireless Inc. entered into a secured revolving credit agreement for up to US$10,000,000.
- The credit facility is for general working capital and operating requirements.
- The agreement is effective as of October 29, 2026, with a Maturity Date of January 1, 2028.
- Subsidiary Guarantors (Non-African Subsidiaries) provide guarantees and first-ranking security over their property.
- African Subsidiaries are excluded from guarantees and security provisions.
- Interest on outstanding principal is set at [***]% per annum, with default interest at [***]% per annum.
- The agreement includes various fees such as Standby Fee, Repayment Fee, and Default Monitoring Fee.
Price Impact
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