Market Update-Bank Covenant
Further to the announcement of 12 September, Cooks Global Foods (NZX:CGF) has become aware that it has breached two bank covenants in relation to its trade finance and overdraft facilities.
CGF’s bank ANZ has waived the breaches, which relate to total interest cover and a term of the facility agreement. CGF does not have term debt with ANZ and the company has no other debt on its Balance Sheet.