Technical breach of our banking covenant
Enprise Group Limited (NZX:ENS) advises that the allocation of the losses of our equity accounted
investments (which represent non-cash write downs), has seen us in technical breach of our banking
covenant in respect of interest cover ratio. The bank has provided a waiver of this breach, however
as the bank is now within its rights to call the loan Enprise will reclassify the remaining balance as a
current liability. We have not ever drawn on the overdraft portion of these facilities – current
balance $0; and the remaining facility remains below our available cash balances.
For and on behalf of the board
Elliot Cooper
Chief Executive Officer
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
Other issuers discussed similar conditions around this time
Matched by meaning across NZX announcement text, not keywords — based on our semantic index of announcement bodies.
- ANZ — ANZ Group Holdings Limited: ANZ Bank New Zealand Disclosure Statement2019-05-17
“ANZ BANK NEW ZEALAND LIMITED UNAUDITED 6. IMPAIRED AND PAST DUE LOANS 31 Mar 19 30 Sep 18 NZ$m NZ$m Loans that are at least 90 days past due but not impaired 275 205 Impaired loans 291 321 7. DEPOSITS AND OTHER BORROWINGS 31 Mar 19 30 Sep…”
- BRW — Bremworth Limited: Preliminary announcement of June 2019 full year results2019-08-26
“27 4c. Loans and borrowings This note provides information about the contractual terms of the Group’s interest-bearing loans and borrowings. For more information about the Group’s exposure to interest rate risks, see note 7 (Risks and financial instruments) to the financi…”
- ANZ — ANZ Group Holdings Limited: ANZ NZ Branch DS 31 March 20192019-05-20
“AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED - ANZ NEW ZEALAND UNAUDITED 6. IMPAIRED AND PAST DUE LOANS 31 Mar 19 30 Sep 18 NZ$m NZ$m Loans that are at least 90 days past due but not impaired 288 221 Impaired loans 292 323 7. DEPOSITS AND…”