Powerfleet Extends $42.5 Million Term Loan With Rand Merchant Bank to 2028

Reuters11-07

Powerfleet Extends $42.5 Million Term Loan With Rand Merchant Bank to 2028

Powerfleet Inc. has amended its existing loan agreement with FirstRand Bank Limited, acting through its Rand Merchant Bank division. Under the amended and restated agreement, Powerfleet and its subsidiaries extended the final maturity date of their $42.5 million Term A Facility by 12 months, with the new maturity set for March 31, 2028. The amendment also updates the interest rates and aligns certain financial covenants with the company's other debt facility from RMB. The Term A Facility will now accrue interest at a fixed rate until March 31, 2027, after which it will switch to a variable rate based on the Secured Overnight Financing Rate $(SOFR)$ plus 4.85%. The Term B Facility's interest terms remain unchanged. The total principal of both facilities is $85 million.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Powerfleet Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001493152-25-021073), on November 06, 2025, and is solely responsible for the information contained therein.

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While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Powerfleet Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001493152-25-021073), on November 06, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4157","symbol_name":"电子设备和仪器","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20251106:nNDL1wmNW5:1","article_id":"2581043131","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2581043131","pubTimestamp":1762464879,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Powerfleet Inc. has amended its existing loan agreement with FirstRand Bank Limited, acting through its Rand Merchant Bank division. 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The Term A Facility will now accrue interest at a fixed rate until March 31, 2027, after which it will switch to a variable rate based on the Secured Overnight Financing Rate $(SOFR)$ plus 4.85%. The Term B Facility's interest terms remain unchanged. The total principal of both facilities is $85 million.\n      \n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Powerfleet Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. 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