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SkyCity gets covenant waiver, adds $50m facility

Staff reporters
Mon, 29 Nov 2021

SkyCity's Auckland casino and hotels hardest hit by lockdowns. (Image: BusinessDesk)
SkyCity's Auckland casino and hotels hardest hit by lockdowns. (Image: BusinessDesk)
Staff reporters
Mon, 29 Nov 2021
SkyCity Entertainment says it has secured debt covenant relief from its banking syndicate and another $50 million in debt facilities while it rides out the impacts of pandemic lockdowns.The waiver, from its syndicate and US private placement holders, is for the Dec 31 testing period.In a statement to the NZX, SkyCity said the variation period will be lifted when it meets the standard test at June 30 next year. It will be unable to make distributions to shareholders or secure any new debt facilities in the interim, it said.The additional debt fa...

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