SkyCity extends debt covenant relief in case of further disruptions

SkyCity Entertainment on Tuesday advised it has secured a number of debt covenant waivers as a contingency in the event that the pandemic causes further disruptions in the near-term.

In a filing to the Australian Stock Exchange, SkyCity said it had secured waivers from its banking syndicate and US Private Placement holders for the June 30, 2022 testing period, and an amendment to the debt covenants for the December 31, 2022 testing period.

“Despite recent improved performance, SkyCity has secured this covenant relief as a matter of prudence to provide the group with contingency in the event of a further material disruption of the near–term operating environment due to Covid-19.”

Source: https://agbrief.com/news/new-zealand/10/05/2022/skycity-extends-debt-covenant-relief-in-case-of-further-disruptions/