(CercleFinance.com) – Solocal announced on Monday that it had requested the agreement of its creditors with a view to deferring the payment of coupons and modifying certain of its financial commitments (‘covenants’).
The group explains in a press release that it wishes to be able to postpone until January 30, 2024 the payment of the coupons due for the bonds and the ‘mini bond’ initially due in June 2023, September 2023 and December 2023.
In addition, Solocal plans to seek the agreement of its bondholders in order to obtain a ‘waiver’ of compliance with certain of its financial covenants, on the one hand the level of the consolidated Ebitda ratio on operating costs. consolidated net interest and on the other hand the level of the consolidated net leverage ratio.
It is specified that an identical ‘waiver’ request will be sent to its
creditors under its revolving credit facility (RCF).
Last June, the group announced its intention to enter into discussions with its financial creditors, negotiations which are continuing to the present.