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Share Name | Share Symbol | Market | Type |
---|---|---|---|
First Quantum Minerals Ltd | TSX:FM | Toronto | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.13 | -0.81% | 15.96 | 15.92 | 16.00 | 16.17 | 15.84 | 16.06 | 2,675,880 | 21:12:07 |
The Net Debt to EBITDA Ratio has been increased as follows:
The Debt Service Cover Ratio has been decreased as follows:
The definitions of EBITDA and Cash Available for Debt Service have been amended to exclude the EBITDA and net cash flows from Ravensthorpe up to and including the second quarter of 2020, while the Company brings this operation out of care and maintenance and into commercial levels of production.
The financial covenants will revert to the original ratios from 2022.
“During this unprecedented time, the Company, with the support of its long-term relationship lenders, has taken the proactive step of renegotiating the terms of the financial covenants under the loan agreement. We appreciate the flexibility and support from our lenders and their continued commitment to work with us as we navigate this current uncertainty,” said Philip Pascall, Chairman and CEO. “The amendment of the financial covenants continues management's long held practice of proactively addressing debt compliance and managing risk in periods of uncertainty.”
For further information, visit our website at www.first-quantum.com.
North American contact: Lisa Doddridge, Director, Investor RelationsTel: (416) 361-6400 Toll-free: 1 (888) 688-6577
United Kingdom contact: Clive Newall, PresidentTel: +44 7802 721663 Fax: +44 140 327 3494E-Mail: info@fqml.com
1 Year First Quantum Minerals Chart |
1 Month First Quantum Minerals Chart |
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