Brief: Awilco LNG: Amendment To Sale/Leaseback Financial Covenants

Alng ASA

22/06/2020 06:39

June 22 (Reuters) - Awilco LNG ASA  ALNG.OL :
    * AMENDMENT TO SALE/LEASEBACK FINANCIAL COVENANTS
    * AGREED WITH CCB FINANCIAL LEASING CO. LTD. (CCBFL) TO MAKE CERTAIN TEMPORARY AMENDMENTS TO
FINANCIAL COVENANTS IN SALE/LEASEBACK FACILITIES FOR WILFORCE AND WILPRIDE
    * REQUIRED MINIMUM CONSOLIDATED CASH AND CASH EQUIVALENTS FINANCIAL COVENANT OF USD 10.0
MILLION
HAS BEEN REDUCED TO USD 2.0 MILLION
    * REQUIRED CONSOLIDATED POSITIVE WORKING CAPITAL FINANCIAL COVENANT HAS BEEN WAIVED, BOTH
EFFECTIVE FOR A SIX-MONTH PERIOD FROM 1 JULY 2020 TO 31 DECEMBER 2020
    * MARKET ANALYSTS EXPECT AN IMPROVEMENT OF LNG SHIPPING MARKET IN SECOND HALF OF 2020 AS
WORLD
REOPENS FROM LOCKDOWNS AND ECONOMIES RECOVER

Source text for Eikon:  ID:nObinW6Xra 
Further company coverage:  ALNG.OL 

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