Opinion

ASB, CBA turn the screws on Abano as Calibre devalues

Jenny Ruth
Tue, 20 Oct 2020

ASB, CBA turn the screws on Abano as Calibre devalues
Jenny Ruth
Tue, 20 Oct 2020
Abano Healthcare's bankers have been applying the screws to the company, raising its annual interest bill by more than $1.2 million.That is in exchange for extending the duration of its lending arrangements by a year and temporarily waiving covenants as the company grapples with the coronavirus crisis.This is a proportionally large increase in its interest bill, considering it generates normalised annual earnings before interest, tax, depreciation and amortisation of a little more than $30 million, according to independent valuer Calibre Pa...

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