Hints and tips:
...Primary Health Properties’ boss has snapped up £69,000 of shares in the hospital and primary care centre developer and landlord ahead of his retirement at the end of this month....
...Reasonable loan covenants and restrictions were eroded and in some cases disappeared. Prices for buyout assets soared....
...In March, Spire warned it risked breaching banking covenants and suspended its dividend....
...Not only for itself but . . . to help to make a new covenant among all human beings,” he says....
...“It’s the next frontier of aggressive deals come through,” said Jessica Reiss, head of US leveraged loan research at Covenant Review. “At the start of the year, it was all about refinancing debt....
...When Sir William Chambers designed Somerset House as London’s first great government office complex in the 1770s, he wrote into the building’s covenant a clause forbidding any vegetation in its grand central...
...Four Seasons, the care home provider, is in the process of being broken up after being taken over by creditors, and Spire Healthcare, which has 39 hospitals, warned in March that it had agreed a covenant...
...The covenant waivers have started coming through....
...Lenders to Spire this month agreed to waive covenant testing due for June and December, suggesting they see the government backstop as enough to put liquidity worries on the back burner until well into 2021...
...It has also waived its covenant tests until the end of 2021, saying revenues per available room — the hotel industry’s preferred performance metric — had plummeted 55 per cent in March....
...Today we cannot help seeing how much our hospitals (and other public services) owe to their Bame staff, when we look at their terrible death rates from Covid-19....
...It still has hospitals, care homes and soldiers to feed. Empty offices not so much....
...However, Carnival will likely need covenant waivers/ additional financing (as they themselves comment) as return to cruising is pushed out to August. On our analysis, CCL may breach covenants in Q3-20....
...It is now at risk of breaching its debt covenants when they are tested in July....
...Mr Gugino, who landed on his head and could be seen bleeding, has been in hospital since. Two officers have been charged with assault in the case....
...Kneeling before a giant, shiny reconstruction of the Ark of the Covenant, the congregant placed his bare palms on the wooden altar, kissed the smooth surface and then pressed his hands to his face, asking...
...As a result, one of the surprising corporate casualties of the coronavirus crisis could be some of the companies that provide staff for hospitals....
...Covenants: management note that intu currently complies with its debt covenants, but that there is a risk that it could breach them at their scheduled testing date in July 2020....
...Mgmt has secured a Jun-21 covenant relaxation (having already negotiated relaxations for the Jun-20 and Dec-20 testing periods)....
...We also believe that a covenant breach is unlikely for CCL given its more accommodating covenants....
...The company has a $500mn bond due for repayment in H2 this year, none of the group borrowings contains any financial covenants nor do they depend on the company’s credit rating....
...Covenants have been waived for August 2020 and February 2021. WH Smith is also eligible for the CCFF, which we understand could allow it to access around £300m....
...agreement will provide Spire with sufficient liquidity and financial stability during the challenging period that is the coronavirus outbreak and – in our mind mitigates/eliminates investor worries on debt covenants...
...Creditors may be able to force this because Premier would likely breach its 3x ND/EBITDA covenant....
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