Latest Financial Covenants News

EVZ Limited has upgraded its banking facilities by replacing Commonwealth Bank with HSBC, expanding total committed credit to $15.5 million. The new arrangements offer improved terms and greater financial flexibility to support growth across its Energy & Resources and Building Products divisions.

Comvita launches a NZ$30 million renounceable Rights Offer to refinance debt and bring Southeast Asian consumer giant Fraser and Neave onboard as a strategic investor with a near 20% stake.

Moody’s Ratings has affirmed APA Group’s Baa2 (stable) credit rating and lowered the downside FFO/Debt threshold from 8% to 7%, reinforcing APA’s financial footing for future growth. This follows a similar adjustment by S&P last December that expanded APA’s debt capacity by over $1 billion.

KGL Resources has locked in a US$300 million streaming agreement with Wheaton Precious Metals, marking a pivotal step in funding the Jervois Copper Project in Australia's Northern Territory. This deal provides significant upfront capital without traditional debt constraints, positioning KGL for copper production growth.

AVADA Group Limited has successfully refinanced its debt facilities with Commonwealth Bank of Australia, replacing a $40 million term loan with improved and more flexible financing arrangements.

The Star Entertainment Group has locked in a binding refinancing agreement with WhiteHawk Capital Partners, securing US$390 million to refinance existing debt and boost liquidity. This move aims to stabilise the company’s financial footing ahead of key regulatory approvals and asset sales.

Brightstar Resources has completed a $313 million funding package, fully financing its Goldfields Project to production and advancing the Sandstone Project towards a final investment decision.

NTAW Holdings has secured an extension of its financial covenant waiver from Commonwealth Bank, easing short-term credit pressures while continuing repayments on its borrowing facility.

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.