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clock Created with Sketch. 02/06/23
13:35
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Originally posted by yurts:
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The issue is not really about paying a break free, it is related to the SBM's debt covenants with the syndicated lender. SBM negotiated a waiver for the interest cover ratio prior to December 2022 (apparently, they looked likely to breach this covenant). Basically, they negotiated to kick the can down the road to 30 June 2023 on the condition that a merger review and refinancing event occurred prior to this date.if if if could ifs could's
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yeah, fair shout. I get the debt covenants/ICR side of things.
(20min delay)