IN BRIEF: Synthomer shares fall as extends covenant relaxation period
1st Jul 2025 15:22
Synthomer PLC - London-based developer of highly specialised polymers - Reaches agreement with banking syndicate to extend covenant relaxtion period to end of 2026. Notes weaker than expected macroeconomic conditions coupled with heightened geopolitical uncertainties. Says extension offers additional headroom through to expected medium-term recovery in earnings. The net debt to earnings before interest, tax, depreciation and amortisation covenant ratios now required under the group's revolving credit facility and the UK export finance facilities have been increased to 5.25x in December from 4.75x, 4.5x in June 2026 from 3.5x and 4.25x in December from 3.25x. Expects to release its interim report on August 5. Read More