Spectrum ASA ("Spectrum") has Friday afternoon, September 30th, entered into an agreement to amend the amortization schedule of the company's term loan facility. With the new repayment schedule the term loan is amortized with USD 2 million in 3Q 2016, USD 3 million in 4Q 2016, USD 8 million in 1Q 2017, USD 3 million in Q2 2017, USD 5 million in Q3 2017 and USD 4 million in Q4 2017 vs. previous amortization
schedule of USD 10 million in 3Q 2016 and USD 15 million in 1Q 2017.
In addition, Spectrum has obtained a waiver for the NIBD/EBITDA - MC capex covenant for 3Q 2016. Further the NIBD/EBITDA - MC capex covenant end Q4 2016 has been increased from 1.75 to 3.25 to provide more headroom. The interest on the term loan facility has been increased with 35 basis points.
Spectrum will report the 3(rd) quarter 2016 financial results on the 27(th) of
October 2016.
For further information, please contact:
Henning Olset, CFO
Mobile: +47 92 26 69 48
E-mail: henning.olset@spectrumasa.com
Rune Eng, CEO
Mobile: +47 91 57 08 45
E-mail: rune.eng@spectrumasa.com
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)