Thyssenkrupp's lenders agree covenant waiver

Lenders to Thyssenkrupp have agreed to waive the September covenant test on its €2.5bn revolving credit line after the German steel firm revealed that it ran the risk of breaching its debt to equity requirements.

  • By Nina Flitman
  • 24 Sep 2013
The firm had been required to maintain gearing of 150% under its credit facility, which was agreed in June 2007. At the end of June, Thyssenkrupp’s debt to equity leverage was running at 185.7%, and so lenders have agreed to waive the gearing covenant for the covenant tests ...

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