RM-SYSTÉM»Události»NWR agrees waivers and amendments to financial covenants in relation to its Export Credit Agency fac
NWR agrees waivers and amendments to financial covenants in relation to its Export Credit Agency fac
17.12.2013 08:20
New World Resources Plc ('NWR' or the 'Company') and New World Resources N.V. ('NWR NV') jointly announce today that NWR's wholly owned subsidiary NWR NV has agreed certain waivers and amendments in relation to its Export Credit Agency ('ECA') facility.
The financial covenants under the ECA facility will not be tested until 30 September 2014. Conditions that NWR NV needs to comply with include: amendments to the scheduled debt service requiring certain prepayments; a minimum cash balance requirement of EUR 80 million; limitations on dividend payments; financial reporting obligations; and limitations on incurring additional senior debt.
There is currently EUR 71 million of outstanding debt under the ECA facility. The facility expires on 31 December 2017.
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Press release (ENG)
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