Australian-listed farm chemical company Nufarm has secured waivers on banking covenants.
Earlier this month Nufarm signalled its net debt would reach $A620 million triggering covenant breaches for periods ending July 31 and October 30 this year.
The company announced today that the waiver agreement address all maturities falling due this year and is subject to hitting milestones based on the company’s projections and objectives.
Nufarm managing director Doug Rathbone said the company was working with lenders to establish a more efficient long-term banking structure.
The company will release its annual financial results tomorrow.
This article is tagged with the following keywords. Find out more about MyNBR Tags
Most listened to
- Airways's Ed Sims says the growth in air traffic management will be hard to sustain
- In Editor's Insight, Nevil Gibson watches Auckland's four "true blue" mayoral candidates step out in Takapuna
- Cameron Officer on Singapore’s driver-less taxi in Car Torque
- In Editor's Insight, Nevil Gibson looks at Phil Goff, who at a forum in Takapuna spoke of the need to reduce population
- Meridian CEO Mark Binns on the Tiwai smelter and generation options