BUZZ-NZ's Comvita jumps on recapitalization talks with lenders to extend maturity date

Reuters12-12 11:42
BUZZ-NZ's Comvita jumps on recapitalization talks with lenders to extend maturity date

** Shares of New Zealand's Comvita CVT.NZ rise as much as 5.8% to NZ$0.55, their highest level in one month

** Stock set for its strongest trading session in nearly a month, if current trends hold

** Honey supplier reaches agreement with lending syndicate on accommodations to advance recapitalisation, including extension of maturities of banking facilities to end of April

** Says new capital of at least NZ$25 million ($14.53 million) required to position firm appropriately

** Says it has agreed to temporary condition of minimum EBIT for six months ended December 2025, which it expects to meet based on present business performance

** Stock down ~32.9% YTD, including session's moves

($1 = 1.7209 New Zealand dollars)

(Reporting by Aamir Sheik Khalid in Bengaluru)

((Aamir.SheikKhalid@thomsonreuters.com))

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