fac-052 · Trade finance

Adriatic Freight Lines

Facility

Trade finance

Currency: EUR
Commitment: €104m
Drawn: €90.2m
Undrawn: €13.8m
EAD: €93m
CCF: 20%
Margin: 395 bps
Maturity: 19 November 2028
Tenor: 31 months

Covenant monitoring

1 breached, 0 within 10% of the threshold

ICR

Direction: Minimum Threshold: 2.43 Current: 2.39 Next test: 30 Jun 2026 Quarterly

Net lev.

Direction: Maximum Threshold: 3.12 Current: 2.59 Next test: 30 Jun 2026 Quarterly

DSCR

Direction: Minimum Threshold: 1.33 Current: 1.71 Next test: 30 Jun 2026 Quarterly

Collateral

Net of supervisory haircuts

Collateral

Currency

Valuation

Valuation (EUR)

Haircut

Net value

Last valued

Basis

Equipment

EUR

€116.8m

36%

€74.4m

23 Feb 2025

Internal model

Equipment

EUR

€62.4m

36%

€39.7m

10 Dec 2024

Internal model

Total

€114.1m

Tenor

31 months

Quarter

Commitment

Drawn

Undrawn

Δ Drawn

Utilisation

2026-Q1

€104m

€90.2m

€13.8m

n/a

87%

2026-Q2

€104m

€90.2m

€13.8m

€0

87%

2026-Q3

€104m

€90.2m

€13.8m

€0

87%

2026-Q4

€104m

€90.2m

€13.8m

€0

87%

2027-Q1

€104m

€90.2m

€13.8m

€0

87%

2027-Q2

€104m

€90.2m

€13.8m

€0

87%

2028-Q3

€104m

€90.2m

€13.8m

€0

87%

2028-Q4

€0

-€90.2m