Latest Financial Covenants News

Bapcor Limited has initiated a fully underwritten $200 million equity raising at $0.60 per share, aiming to reduce debt and support a strategic turnaround under new leadership. The retail entitlement offer opened on 5 March and closes on 19 March 2026.

Minbos Resources has locked in a US$16 million debt facility from South Africa’s IDC to fund the next phase of its Cabinda Phosphate Fertilizer Plant construction, marking a key milestone for the project’s development.

Electro Optic Systems has locked in a $100 million secured loan facility to fuel growth and support its acquisition of MARSS, positioning the company for expansion in counter-drone technologies.

Synlait Milk Limited has secured important amendments and waivers to its syndicated bank facilities, aligning its financial covenants with the upcoming sale of its North Island assets scheduled for April 2026.

Pure Foods Tasmania reports a $6.85 million half-year loss, driven by a strategic operational reset and loan covenant breach, while showing signs of stabilisation and margin improvement.

AJ Lucas Group Limited has swung to a $38.9 million half-year profit, buoyed by a significant UK settlement and improved Australian drilling operations despite revenue pressures.

Rubicon Water reported a 9.4% revenue decline to $29 million and a net loss of $6.4 million in the first half of FY26, driven by a sharp drop in ANZ hardware sales. The company anticipates a rebound in Asia in the second half, despite ongoing foreign exchange headwinds.

Shine Justice Ltd has reported a strong turnaround in its half-year results to December 2025, posting an 8% revenue increase and a return to profitability with a $6.7 million net profit. The legal services firm saw robust growth in personal injury litigation and ongoing class actions, despite cash flow challenges from delayed settlements.

Matrix Composites & Engineering Ltd reported a $9.4 million loss for the half-year ending December 2025, driven by a 32% drop in revenue to $26.9 million. Despite the weak first half, the company anticipates a robust second half to meet or exceed last year’s full-year revenue.

Delorean Corporation reports a significant half-year loss as it pivots from contractor to bioenergy infrastructure owner, advancing key projects but facing financial covenant breaches.

Beforepay Group Limited reported a robust half-year performance with revenues climbing 18.7% and profit after tax nearly doubling, driven by growth in lending volumes and strategic expansion of its Carrington Labs credit analytics business.

Propel Funeral Partners reported a 6.2% rise in statutory net profit to $12.5 million for the half-year ended December 2025, supported by strategic acquisitions in New Zealand and a refinancing of its senior debt. The company also declared a 7.5 cent fully franked interim dividend.