Relentless sell down, page-71

Just doing some reading from Financial Reports - At year end Vocus had $886m gross debt. Since then they have spent more on NextGen.
As their share price falls, at what level do Banking Covenants begin to be a consideration?

Capital Management
During the year Vocus produced net cash inflows from operating activities of $135,626,000 (2015: $42,610,000). A significant amount of this has been reinvested in the network through customer connections and upgrades to the network to support growth. There was also $21,078,000 net cash inflow (2015: $13,597,000) from financing activities net of dividend payments of $50,860,000 (2015: $2,212,000). At the reporting date 30 June 2016, consolidated cash holdings stood at $128,629,000 (2015: $15,170,000), total drawn debt and lease liabilities was $886,111,000 (2015: $119,723,000) and net debt (being total debt less cash holdings) was $757,482,000 (2015: $104,553,000). The gearing ratio for Vocus for the year ended 30 June 2016 was 19% (2015: 35%), as measured by net debt divided by net debt plus equity. Net debt and gearing reflect Vocus' trading activity as well as the acquisition of M2 Group Ltd and Amcom Telecommunications Limited. These changes are described below in significant changes in the state of affairs. The Group’s bank facility at 30 June 2016 consists of a $1,234,200,000 senior finance facility (2015: $131,235,000), comprising a combination of 3 year and 5 year facilities which replaced the existing syndicated facilities of M2 and Vocus. Interest on the facility is recognised at the aggregate of the reference bank bill rate plus a margin. During the current and prior year, there were no defaults or breaches in relation to the utilised bank facility.