Vulcan Steel extends covenant relaxation until 2026

Tue, 24 Jun 2025

Vulcan Steel has announced the extension of the relaxation of covenant thresholds with its banking syndicate.

The company said the extension, which was granted after constructive discussions, will now be in effect until June 30, 2026.

The relaxation was initially granted in October 2024 and was set to expire on December 31, 2025.

Vulcan Steel said it continues to have strong liquidity and no debt facilities maturing until the financial year ending June 30, 2027.

The company said the pre-emptive step was taken to ensure ample working capital headroom in the current uncertain economic environment.

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