Norcros wants more amendments on £80m deal

Norcros, the UK tiling company, is seeking to amend and restate the terms of its £80m loan, a deal due in July 2012. The borrower expects to reach an agreement with its lenders by mid-June, when it will release its year-end (to March 31) results.

  • 30 Mar 2009
Norcros has already reset the covenants on the facility ahead of the next test date at the end of March. It did not disclose which covenants it had changed, but told EuroWeek that it would not have breached the original ones at the next test date even if ...

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