In the update it mentioned Net Debt to EBITDA covenant is 3.5
In the update Net debt is forecast to be $1.0-$1.1b at end of financial year.
If net debt wast $1.1b, EBITDA needs to stay above $314m (current forecast 365-375)
Or if net debt crept up to $1.2b in coming years (ASC etc), EBITDA would have to stay above 340m
I wonder if they can just refinance to get more leverage headroom...
This is not fair, page-37
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