FACC negotiates covenants as airports warn on repeat waivers

By Mike Turner
26 Mar 2021

FACC, the Austrian aerospace components company, has amended the financial covenants on its syndicated loan, as large chunks of the EMEA airline sector continue to renegotiate debt tests.

FACC has relaxed the financial covenants on its €255m five year syndicated facility, signed in 2018. Raiffeisen Bank International and UniCredit arranged that deal.

The covenant waiver comes amid a wave of similar requests from European corporates. Moody’s said this week that 12% of rated companies have ...

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