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Microsoft Teams — Night's Watch Bot

🚨 Night's Watch Alert — new data processed

Today’s bank file refresh completed. 2 companies flagged High risk, 2 Medium. Executive summary:

High Sahel AgriCorp — coverage 0.46 · $6.0M principal · $378K shortfall at T1
High Lagos FinServe — coverage 0.71 · $3.2M principal · $209K shortfall at T1
Medium Dar Telecom — coverage 0.98 · thin margin
Medium Nairobi Logistics — coverage 1.05 · deteriorating
See more in Credit Desk →
Today, 08:00 AM · via Night's Watch automated digest
Night's Watch Credit desk · Now horizon

Portfolio — ranked worst-first

#CompanyRiskCoveragePrincipalTransferable / TotalTrend
1
Sahel AgriCorp
Cameroon
High 0.46 $6,000,000 $0.32M / $9.31M ↓ worsening
2
Lagos FinServe
Nigeria
High 0.71 $3,200,000 $0.51M / $4.20M ↓ worsening
3
Dar Telecom
Tanzania
Medium 0.98 $4,500,000 $0.88M / $5.10M ↓ worsening
4
Nairobi Logistics
Kenya
Medium 1.05 $1,800,000 $0.42M / $1.50M ↓ worsening
5
Kampala Power
Uganda
Low 1.30 $900,000 $0.26M / $0.90M → stable
Night's Watch Credit desk · Sahel AgriCorp
#CompanyRiskCoverage
1
Sahel AgriCorp
High0.46
2
Lagos FinServe
High0.71
3
Dar Telecom
Medium0.98

Sahel AgriCorp

High
Cameroon · LN-SAHEL-1 · feed today
Why it's flagged
0.46
coverage · high-risk below 1.20
Projected transferable cash at T1 covers only 46% of the $700,000 due on Jul 15, 2026. ≈ $378,000 short
Transferable vs trapped cash
$324,857 transferable (3.5%) $8,986,818 trapped (96.5%)
Night's Watch Credit desk · Sahel AgriCorp · Loan

Loan — detail & analytics

LN-SAHEL-1 📄 View contract

A $6.00M Senior secured loan. $700,000 cash due Jul 15, 2026 (in 26 days). Transferable cash covers 46% → ≈ $378,000 short.

Coverage @ T1 ⓘ
0.46
transferable ÷ cash due
Cash due (T1) ⓘ
$700,000
in 26 days
Shortfall (T1)
$378,000
unfunded portion of the coupon
Next payment
26d
Jul 15, 2026
Seniority & security
Senior secured ⓘ
recovery rank in a workout
Coupon
12% ⓘ
paid in cash
Annual cash coupon
$720,000
principal × coupon, per year
Principal at risk
$6,000,000 ⓘ
100% of principal
Night's Watch Credit desk · Sahel AgriCorp · Recoverability
Now Medium Later

Recoverability (first-pass)

First-pass read
Partial
loan structure + convertibility + prior misses
Savable money
$3,200,932
recoverable of the principal at risk
Senior secured; 1 prior miss; cash is overwhelmingly trapped (recoverable only once convertibility or a bridge clears) → structure-only read of Partial (~0.53). Financials sharpen this next.

Context

Runway
38 days
Trend
↓ deteriorating
Prior issues
1
Data freshness
today
Night's Watch Credit desk · Sahel AgriCorp · Signal enhancement

How new data sharpens the signal

Each phase adds a data source. The estimate narrows. Confidence increases.

Now
Coverage
0.46
Savable
$3.2M
Source: bank balances + loan structure
1m
Coverage estimate
0.52 range 0.38–0.62
Savable
$3.8M ↑+$500K
gold.cashflow → 58% of trapped cash historically available for debt repayment
gold.balance_sheet → $1.2M receivables (Cocoa Board, due 22d)
2m
Coverage estimate
0.48 range 0.41–0.55 (tighter)
Savable
$3.8M confirmed
gold.business_lifecycle → Cocoa Board renewal ($800K Q3) offsets coupon accrual
gold.cashflow → confirms debt service pattern; EUR sweep = related-party
Result: range narrowed from ±0.24 → ±0.14. More data = higher confidence in the estimate.
Night's Watch Credit desk · Sahel AgriCorp · Action

Recommended action

P1
Roll up sleeves — protect the coupon
Coverage 0.46 with $6M principal at risk, 1 prior miss, and a deteriorating trend. Time-sensitive: 38-day runway, $700K due Jul 15.

Steps

  1. Confirm FX convertibility path with the borrower (XAF → USD timeline)
  2. Request a cash-sweep instruction on the transferable accounts
  3. Model a short-term bridge facility against the $378K shortfall
  4. Escalate to the Investment Committee if bridge > 5% of fund NAV
✉ Email Amina Bello Treasurer · a.bello@sahelagricorp.cm
Night's Watch Credit desk · Sahel AgriCorp · Act & record

Act & record

Log what was done, by whom, and the outcome. This feeds the action log and triggers downstream monitoring.

Contacted borrower CFO re: XAF convertibility; requested cash-sweep on USD account
CFO confirmed FX route via BEAC; $180K arriving in 5 business days. Bridge not needed yet.
Amara Okonkwo
✓ Action logged

Sahel AgriCorp processed

Action result monitoring triggered · logged by Amara Okonkwo · today

CFO confirmed FX route via BEAC. $180K expected in 5 business days. Re-check scheduled for Jul 1. Bridge deferred.

Next in queue: Lagos FinServe →

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