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...Carlyle has argued that several breaches of financial covenants on the loan agreement by Esken since November 2022 meant the sum should be repaid by the middle of February — more than four years ahead of...
...Generally, most of the price of something made in China that is sold in the United States will be paid to US workers — the transport, distribution, advertising, retail, etc....
...“Banks need to work with their industry peers to not only set standards of their own, but establish what amounts to a covenant for collective enforcement.”...
...The upshot is that covenant net debt increased by 90 per cent to £17.9mn....
...It is weighed down by £19bn of debt, which includes some cash-flow covenants that were waived during the pandemic....
...The airport, which has £4.8bn in liquidity, forecasts passenger numbers to recover to 21m for 2021 as more people fly, but has asked its creditors to extend a waiver on a covenant threatened by the business...
...The haulage group had warned that it was running out of money, and at risk of breaching its banking covenants....
...But the bulk of this is in covenant-free junk bonds which have traded at an average yield of near-5 per cent in the past year....
...Stagecoach last month said it had secured an extension to its banking covenant waivers until October 2021. Shares in the bus company have fallen by 40 per cent in the past 12 months....
...Last month, the group announced it had secured an extension to its covenant waivers until October 2021....
...To further that end, Stagecoach has negotiated covenant waivers on its debt until next year when these will be stress-tested again, in return for maintaining a minimum level of liquidity....
...The group expects to “comfortably” meet its banking covenants at the end of this month and had about £850m in free cash by the end of August....
...Greening left government in 2018, having spent eight years in ministerial roles including a stint as transport secretary between 2011 and 2012....
...Shaftesbury reckons it could stomach a 34 per cent drop in valuations before its loan to value covenants came under pressure. If Covid-19 effects linger, that could become uncomfortably tight....
...YRC has more than $800m in long-term debt, the bulk of which is a term loan that private equity firm Apollo Global Management had organised last year (YRC also recently received covenant relief on that loan...
...Briefly Card Factory warned that it expects to breach banking covenants at the end of January....
...With break-even improbable in 2021 and management cagey about debt covenant triggers the year after, the odds on another equity issue have shortened. How have the shares reacted? Positively....
...Analysts are increasingly worried that it could breach its bond covenants or simply run out of cash....
...Without debt reduction, the gearing ratio would have soared to more than four times, breaching lending covenants, had these not been suspended....
...“Ending Q2 20, we see Norwegian breaching covenants on our numbers,” he added....
...The extra A$1.05bn in funding, which contains no financial covenants, increases Qantas’s cash balance to A$2.95bn, with an additional A$1bn undrawn facility remaining available....
...Its covenant requires a minimum of NKr1.5bn, a third of that in cash. Norwegian already makes post-tax losses. Any worsening could mean a covenant breach later this year, thinks Lex....
...The company has sought to reassure investors about its financial position and said it was not in danger of breaching any debt covenants, saying it maintains the support of its largest shareholders, which...
...Investor attention is once again drawn to the risks involved in securing amendments or waivers to covenants on the reserves-based lending facility....
...The thrust of Mr Allen’s ruling was that the Ryanair covenant placed too broad a restriction on Mr Bellew when he decided to leave....
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