Aug 6 (Reuters) - Myer Holdings Ltd (MYR) :
- EXISTING LENDERS EXTEND FINANCE FACILITIES TO 2022
- SIGNED BINDING TERM SHEET WITH EXISTING LENDERS TO AMEND AND EXTEND ITS BANK FACILITY UNTIL AUGUST 2022.
- TRADING DURING SECOND HALF OF FY20 WAS SEVERELY IMPACTED BY COVID-19
- EXPECTS TO REPORT A SMALL NET CASH POSITIVE POSITION AT END OF FY20
- AMENDED FACILITY OF $340M, COMPARES TO EXISTING FACILITY OF $360M
- LENDERS HAVE AGREED NO COVENANT TESTING WILL BE REQUIRED AT END OF FY20
- LENDERS AGREED THAT NO COVENANT TESTING WILL BE REQUIRED AT END OF FY20, GIVEN SIGNIFICANT IMPACT OF COVID-19 ON OPERATIONS IN 2H20
- TEMPORARILY CLOSED ALL METROPOLITAN MELBOURNE STORES FROM CLOSE OF BUSINESS ON 5 AUGUST 2020 FOR SIX WEEKS
- MYER'S REGIONAL STORES IN GEELONG, BALLARAT AND BENDIGO WILL CONTINUE TO OPERATE DURING THIS TIME
- A NUMBER OF MYER'S TEAM MEMBERS WILL NOT BE REQUIRED TO WORK FOR PERIOD OF MELBOURNE STORE CLOSURES
Aug 6 (Reuters) - Myer Holdings Ltd (MYR) : EXISTING LENDERS...
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