Yellow directories, with waiver from banks, confident it will meet covenants

Tue, 07 Jan 2014

By Jonathan Underhill Jan. 8 (BusinessDesk) – Yellow, the directories business seized by its bankers in 2011, is confident it will continue to comply with its debt covenants after gaining waivers for 2014 and will be able to refinance some $414 million of debt due next year. NZ Directories Holdings, which owns the Yellow business, narrowed its net loss of $12.5 million in the year ended June 30, 2013, from a loss of $78 million a year earlier when it took impairments totalling $112.9 million against goodwill, brands and customer relationship...

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