Syndicate Sizing
$10,000M
Drawn: $4,000M
Undrawn Buffer
$6,000M
Fee: $15M/yr
Annual Debt Service
$291M
Drawn Int: $276M
Covenant Headroom
$7,000M
Compliant (5.67x Liquidity Coverage)
Syndicate Allotment & IPO Bookrunner Waterfall Flow
Syndicate Ledger & Projected IPO Economics
| Underwriter / Bank | Syndicate Tier | Commitment ($M) | Share (%) | Target IPO Role | Action |
|---|
Credit Facility Telemetry: Facility $10,000M fully covered. Post-drawdown liquidity stands at $8,500M yielding $7,000M covenant cushion above $1,500M requirement. Total annual carrying cost is $291M (all-in drawn rate 6.90% + 25 bps undrawn ticking fee).