RE:Sprotthttps://www.platinumgroupmetals.net/investor-relations/news/press-releases/press-releases-details/2015/Platinum-Group-Metals-Executes-Credit-Agreement-for-WBJV-Project-1-Senior-Secured-Loan-Facility-of-Up-To-US40-Million-With-Syndicate-of-Lenders-Led-by-Sprott-Resource-Lending-Partnership/default.aspx
Rough calculation of about 14-15% effective rate, including 3.5% in shares upfront?
"The Facility shall be for a maximum principal amount of US$40 million at an interest rate of LIBOR plus 8.50%, compounded and payable monthly. The Company made or will be obligated to make certain payments to the Lenders, including (a) a bonus payment made concurrently with execution and delivery of the Credit Agreement in the amount of US$1,500,000, being 3.75% of the principal amount of the Facility, payable in 2,830,188 common shares of the Company issued on the date hereof to the Lenders at a deemed price per share equal to US$0.53 per common share of the Company; (b) a draw down payment to the Lenders equal to 2% of the amount being drawn down under the Facility, payable in common shares issued at a deemed price equal to the volume weighted average trading price (the "VWAP") of the common shares on the TSX for the ten trading days immediately prior to the draw down request or such other VWAP as required by the TSX; and (c) a structuring fee comprised of a cash payment in the amount of US$100,000, paid concurrently with the execution and delivery of the term sheet for the Facility; and (d) a standby fee payable monthly until December 31, 2015 in cash equal to 4% per annum of the un-advanced principal amount of the Facility."