Nufarm secures waivers on banking covenant breaches

Free audio stream, including stories that are padlocked on our site. Listen on any device, anywhere. Updated twice daily. The audio stream takes several seconds to start on Android devices.

Launch Radio player

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.


Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

Comments & Questions

Commenter icon key: Subscriber Verified

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.6339 -0.0030 -0.47%
AUD 0.9040 0.0002 0.02%
EUR 0.5655 -0.0026 -0.46%
GBP 0.4145 -0.0016 -0.38%
HKD 4.9131 -0.0230 -0.47%
JPY 76.4580 -0.3580 -0.47%

Commods

Commodity Price Change Time
Gold Index 1133.1 -6.200 2015-09-02T00:
Oil Brent 51.3 0.930 2015-09-02T00:
Oil Nymex 46.9 0.840 2015-09-02T00:
Silver Index 14.7 0.050 2015-09-02T00:

Indices

Symbol Open High Last %
NZX 50 5590.2 5633.4 5590.2 -0.37%
NASDAQ 4704.4 4750.0 4636.1 2.46%
DAX 10060.3 10122.3 10015.6 0.32%
DJI 16058.4 16352.6 16058.4 1.82%
FTSE 6058.5 6161.7 6058.5 0.41%
HKSE 21101.4 21288.5 21185.4 -1.18%
NI225 18359.5 18481.6 18095.4 1.42%