Stagecoach Group PLC Covenant Waiver (2977Q)
18 Giugno 2020 - 8:00AM
UK Regulatory
TIDMSGC
RNS Number : 2977Q
Stagecoach Group PLC
18 June 2020
18 June 2020
Covenant waiver
Stagecoach Group plc ("the Group") continues to take appropriate
action to maximise financial flexibility as it negotiates the
continuing challenges and uncertainty around COVID-19 and the UK's
recovery. We have taken the precautionary measure of agreeing a
covenant waiver for the periods ending 31 October 2020 and 1 May
2021 with our group of lending banks for our facilities expiring
March 2025. As an alternative to the covenants, we have agreed
minimum liquidity thresholds at 31 October 2020 and 1 May 2021.
Combined with the other actions outlined in our announcements on
23 March, 3 April and 28 May, the Group has strong liquidity, with
available cash and undrawn, committed bank facilities of over
GBP800m.
For further information, please contact :
Investors and analysts
Ross Paterson, Finance Director 07714 667897
Bruce Dingwall, Group Financial Controller 07917 555293
Media
Steven Stewart, Director of Communications 07764 774680
John Kiely, Smithfield Consultants 07785 275665
The person responsible for arranging the release of this
announcement on behalf of Stagecoach Group plc is Mike Vaux,
Company Secretary.
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Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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