Kathmandu to raise $207m at steep discount

Kathmandu to raise $207m at steep discount
Rebecca Howard
Kathmandu Holdings intends to raise $207 million at a steep discount to meet its bankers' requirements to waive and relax its covenants as it looks to ride out the impact of covid-19.Kathmandu said its existing banking group has provided a covenant waiver for the periods ending July 31, 2020 and January 31, 2021, and a relaxation of certain covenants for the period ending July 31, 2021, subject to successful completion of a minimum $150 million equity raising.“The board is taking pre-emptive action with the capital raising announced today, to e...

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