HMV set to break covenants as Christmas sales disappoint

HMV, the troubled UK entertainment store chain, warned lenders that it expects to breach debt covenants on its £220m debt as disappointing Christmas trading and competition from internet retailers continue to impact on profits.

  • 13 Dec 2012
The company said that it was unlikely to pass covenant tests due in January and April 2013, which include a requirement to ensure its £60m working capital facility is below £50m for a period of 31 consecutive days during the year. HMV passed covenant tests in July and ...

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1 Bank of America Merrill Lynch (BAML) 4,755 19 11.75
2 Citi 4,288 14 10.60
3 Rabobank 2,633 4 6.51
4 Goldman Sachs 2,615 4 6.46
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  • 24 Jul 2017
1 Bank of America Merrill Lynch 57,945.74 181 12.35%
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