June 29, 2020 / 9:44 AM / 13 days ago

BRIEF-Pinnacle Renewable Energy Announces Agreement With Lenders For Amendments To Credit Facility To Improve Financial Flexibility

June 29 (Reuters) - Pinnacle Renewable Energy Inc:

* PINNACLE RENEWABLE ENERGY ANNOUNCES AGREEMENT WITH LENDERS FOR AMENDMENTS TO CREDIT FACILITY TO IMPROVE FINANCIAL FLEXIBILITY

* AMENDED CREDIT FACILITY INTRODUCES A COVENANT RELIEF PERIOD THAT WILL APPLY FROM Q2 2020 THROUGH Q2 2021

* FROM Q2 2020 THROUGH Q2 2021 COMPANY’S LEVERAGE COVENANT WILL BE RELAXED FROM EXISTING LEVELS

* AMENDED CREDIT FACILITY EXTENDS ACCESS TO COMPANY’S DELAYED DRAW FACILITY TO JUNE 30, 2021 FROM DEC 31, 2020

* TERMS OF AMENDMENT DESIGNED TO IMPROVE FINANCIAL FLEXIBILITY FOR COMPANY THROUGH END OF JUNE 2021 Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below