Drawn Debt
Short definition
Drawn debt is principal actually taken under a facility. It is not the limit; it is the stock that accrues interest. The undrawn part accrues a commitment fee.
Detailed explanation
On a revolver, draws and repayments swing daily; a term loan has an availability period. Collateral and covenants can cut the drawable amount below the signed limit.
FX inflates a foreign-currency draw in local currency. Utilisation influences bank appetite and pricing.
Why it matters for the CFO
Interest and leverage sit on the drawn stock. Headroom sits in the undrawn, drawable part. Mixing the two misstates both cost and liquidity.
How it is calculated
Çekilmiş borç = Limit − Kullanılmamış taahhüt (aynı tesis için)
Variables in the formula
- Drawn: Utilised principal on the facility
How to read it
Drawn / limit = utilisation. 100% utilisation is zero headroom — and zero liquidity if cash is also zero.
Numerical example
RCF limit 150 mn TL, drawn 110 mn TL → drawn debt 110, paper gap 40 mn TL (drawability separate).
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Definitions are educational. They are not investment, credit or tax advice.