Bapcor Secures Revised Covenant Arrangement With Lenders

MT Newswires Live08-12

Bapcor (ASX:BAP) secured revised covenant arrangements with its lenders for the fiscal 2027 testing periods, providing the company with further financial flexibility, according to a Wednesday filing with the Australian bourse.

Net leverage ratio now increases to 3.5 times adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) on Dec. 31 before reverting to 3 times adjusted EBITDA for testing on June 30, 2027, and thereafter, the filing said.

Additionally, fixed charge cover ratio reduces to 1.30 times adjusted EBITDA on Dec. 31 and June 30, 2027, before reverting to 1.75 times adjusted EBITDA for testing on Dec. 31, 2027, and thereafter, per the filing.

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