Monitor utilization of the $32M delayed draw term loan (available 24 months) for M&A or dividends on Series C preferred. The 6.00x total net leverage covenant provides ample headroom given the deemed EBITDA figures in the credit agreement. Watch for any future incremental facility incurrence or ROFR exercises by Diameter/Kennedy Lewis.
Price Chart
Executive Summary
AlTi Global, Inc. entered into an $85 million senior secured credit facility on October 19, 2026, consisting of $60 million in term loan commitments (including $32 million delayed draw) and a $25 million revolving credit facility, maturing October 19, 2032. The facility is secured by substantially all assets of the credit parties and carries interest at SOFR+5.25% or Base+4.25%. This refinances existing third-party debt and provides working capital and acquisition financing capacity.
Key Financial Metrics
Key Facts
- Total facility size: $85,000,000 senior secured credit facility
- Term loan commitments: $60,000,000 (including $32,000,000 delayed draw term loan)
- Revolving credit facility: $25,000,000
- Maturity date: October 19, 2032 (6-year term)
- Interest rate: Adjusted Term SOFR + 5.25% or Base Rate + 4.25%
- Delayed draw term loan available for up to 24 months from closing
- Financial covenant: Total Net Leverage Ratio not to exceed 6.00:1.00
- Prepayment premium: 2.00% if within first year, 1.00% if between year 1-2, 0.00% thereafter
- Guaranteed by AlTi Global, Inc. and certain subsidiaries; secured by substantially all assets
- All existing third-party debt for borrowed money was repaid/refinanced at closing
Financial Impact
New $85M senior secured credit facility replaces existing third-party debt; $60M term loan (incl. $32M delayed draw) + $25M revolver; interest at SOFR+5.25% or Base+4.25%; 6-year maturity
Risk Factors
- High interest rate margin (SOFR+5.25%) increases interest expense burden
- Prepayment premium (2% in year 1, 1% in year 2) limits refinancing optionality
- Covenant headroom may be tight if EBITDA declines; equity cure available but limited to 5 occurrences
- Delayed draw term loan requires 3.50x total net leverage test at funding
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-066398 |
| Document: alti-20261019.htm | 0001628280-26-066398 |
| Document: 0001628280-26-066398-index-headers.html | 0001628280-26-066398 |
| Document: 0001628280-26-066398-index.html | 0001628280-26-066398 |
| Document: 0001628280-26-066398.txt | 0001628280-26-066398 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 7d ago | 8-K | $2.67 | awaiting T+20 | — | $2.52 (−5.81%) |
Aug 10, 2026 11w ago | 8-K | $4.07 $3.24 | ▲ +20.39% | ▲ +19.33% | $2.52 (+38.21%) |
Jul 13, 2026 15w ago | EFFECT | $3.44 $4.30 | ▲ +25.00% | ▲ +21.82% | $2.52 (−26.89%) |
Jun 30, 2026 17w ago | S-3 | $3.61 $3.63 | ▲ +0.55% | ▲ +1.58% | $2.52 (−30.33%) |
May 29, 2026 21w ago | DEFA14A | $3.23 $3.61 | ▲ +11.76% | ▲ +13.06% | $2.52 (−22.14%) |
May 11, 2026 24w ago | 8-K | $3.45 $2.81 | ▼ −18.55% | ▼ −16.82% | $2.52 (−27.10%) |
Apr 30, 2026 25w ago | DEFA14A | $3.60 $3.23 | ▼ −10.28% | ▼ −15.54% | $2.52 (−30.14%) |
Apr 9, 2026 28w ago | 3 | $3.85 $3.82 | ▼ −0.78% | ▼ −9.31% | $2.52 (−34.68%) |
Mar 31, 2026 30w ago | 8-K | $3.62 $3.54 | ▼ −2.21% | ▼ −11.63% | $2.52 (−30.52%) |
US Market Status
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