KAZ Minerals says a waiver of the net debt to EBITDA financial covenant in the group’s PXF facility due to be tested as at 31 December has been approved. The covenant is next due to be tested as at 30 June 2017. The group continues to enjoy strong support from its lenders and plans to resume discussions with the PXF bank syndicate over a longer term refinancing of the facility in early 2017, after release of the 2016 financial statements.
A similar waiver request has also been issued to Caterpillar Financial Services (UK) Limited in respect of the Group’s $50 million revolving credit facility and a formal response is expected shortly.
At 4:16pm: (LON:KAZ) Kaz Minerals PLC share price was -7.35p at 294.75p
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