By The Numbers
The total Working Capital debt Facility amount.
What is $4.1B?
The percentage that is applied to the GROSS asset value in order to get to the NET asset value
What is the Advance Rate?
The name of the scheduling checklist that Treasury and the Business follow each month to ensure everything is complete.
What is the Runbook?
This category has a 100% advance rate.
What is Cash?
This is the role of the Bank which issues the Letter of Credit.
What is the Issuing Bank?
The total Acquisition debt facility amount.
What is $662.5M?
This is the Lead Bank for the Working Capital Facility.
What is MUFG?
The name of the "Black Box" software that accepts all info from source systems and calculates valuation.
What is Mosaic?
This category is for the value of the product in our tanks and pipelines.
What is Inventory?
In a typical letter of credit where Sprague is securing the purchase of products with a customer, we are considered this role.
What is the Applicant?
The day of the month that the Borrowing Base is due for submission.
What is day 7?
This is the name of at least one of the asset categories that are excluded from the BB calculation.
What is Materials Handling, Throughput, Coal, Demurrage, Receivables >60 days old?
This category has short, medium, and long term subcategories.
What is the Forward Book.
This is the loan tranche that Sprague typically utilizes for the issuance of LC's.
What is Uncommitted?
This is the month and year that the Working Capital facility expires.
What is September, 2027?
We typically expect this category to have it's highest value as we come out of the cold season, lagging slightly behind the sale of the product.
What is AR?
This is the term used to describe a letter of credit which annual renews.
What is Evergreen?
This category is added as an asset category, but then subtracted 100% as a liability.
What is Product Tax?