Nufarm secures waivers on banking covenant breaches

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 0.7185 0.0006 0.08%
AUD 0.9350 -0.0013 -0.14%
EUR 0.6772 0.0016 0.24%
GBP 0.5766 -0.0009 -0.16%
HKD 5.5761 0.0040 0.07%
JPY 81.2870 0.2110 0.26%

Commods

Commodity Price Change Time
Gold Index 1234.8 -4.300 2017-02-17T00:
Oil Brent 56.1 0.140 2017-02-17T00:
Oil Nymex 53.8 0.020 2017-02-17T00:
Silver Index 18.0 -0.040 2017-02-17T00:

Indices

Symbol Open High Last %
NZX 50 7099.5 7099.5 7099.5 -0.24%
NASDAQ 5807.3 5838.6 5814.9 0.41%
DAX 11831.7 11841.1 11757.0 0.60%
DJI 20564.1 20624.0 20619.8 0.02%
FTSE 7300.0 7329.6 7300.0 -0.00%
HKSE 24066.0 24202.3 24033.7 0.47%
NI225 19161.3 19274.8 19234.6 0.09%
ASX 5805.8 5810.1 5805.8 -0.18%