fac-039 · Trade finance

Cygnus Data Systems

Facility

Trade finance

Currency: USD
Commitment: US$137.4m
Drawn: US$121.6m
Undrawn: US$15.8m
EAD: €114.8m
CCF: 20%
Margin: 220 bps
Maturity: 25 April 2028
Tenor: 24 months

Covenant monitoring

0 breached, 0 within 10% of the threshold

DSCR

Direction: MinimumThreshold: 1.3Current: 1.64Next test: 30 Jun 2026Quarterly

Net lev.

Direction: MaximumThreshold: 4.35Current: 2.84Next test: 30 Jun 2026Quarterly

ICR

Direction: MinimumThreshold: 3.37Current: 5Next test: 30 Jun 2026Quarterly

Collateral

Net of supervisory haircuts

Collateral

Currency

Valuation

Valuation (EUR)

Haircut

Net value

Last valued

Basis

Receivables

USD

US$166.8m

€153.5m

31%

€106.6m

14 Feb 2025

Internal model

Securities

USD

US$112.9m

€103.9m

23%

€79.9m

19 Jan 2026

Independent appraisal

Total

€186.5m

Tenor

24 months

Quarter

Commitment

Drawn

Undrawn

Δ Drawn

Utilisation

2026-Q1

US$137.4m

US$121.6m

US$15.8m

n/a

88%

2026-Q2

US$137.4m

US$121.6m

US$15.8m

US$0

88%

2026-Q3

US$137.4m

US$121.6m

US$15.8m

US$0

88%

2026-Q4

US$137.4m

US$121.6m

US$15.8m

US$0

88%

2027-Q1

US$137.4m

US$121.6m

US$15.8m

US$0

88%

2027-Q2

US$137.4m

US$121.6m

US$15.8m

US$0

88%

2027-Q4

US$137.4m

US$121.6m

US$15.8m

US$0

88%

2028-Q1

US$0

-US$121.6m