Brief: French group GL Events gets state-backed loan and covenant holiday from bondholders
26/10/2020 06:04
Oct 26 (Reuters) - GL Events SA GLTN.PA :
* THE GROUP'S LIQUIDITY AND FINANCIAL FLEXIBILITY IS
REINFORCED
AFTER OBTAINING A BOND COVENANT HOLIDAY AND A NEW
STATE-GUARANTEED LOAN
* COVENANT HOLIDAY FROM ITS BONDHOLDERS AND EUR 164 MILLION
FROM
ITS FINANCIAL PARTNERS THROUGH A NEW FRENCH STATE GUARANTEED
LOAN PROGRAMME FOR TOURISM AND RELATED INDUSTRIES
* NEW CREDIT LINE STRENGTHENS GL EVENTS' CASH POSITION AND
FINANCIAL FLEXIBILITY AND WILL ALLOW US TO COME THROUGH THIS
CRISIS AND REBOUND STARTING IN 2021.
Source text for Eikon: ID:nNDL3cWYXm
Further company coverage: GLTN.PA
(Reporting by Sudip Kar-Gupta)
((sudip.kargupta@thomsonreuters.com;))