Financial

Covenant extension agreed with lending partners

Leading pan-African technology solutions group Liquid Intelligent Technologies, a business of Cassava Technologies, today announces the extension of Liquid’s net debt:EBITDA covenant threshold in respect of its ZAR term loan and RCF.

Earlier this year we engaged with our lending partners on a pre-emptive basis due to the prospect of further exchange rate volatility in certain markets. Following constructive discussions we are pleased to announce deferrals in the step down schedule for the net debt:EBITDA covenant threshold in respect of our ZAR term loan and RCF.

As a result, the step down from 4.0x to 3.5x that was due to take place in May 2023 will now occur in February 2024 and a second step down from 3.5x to 3.0x that was due to take place in May 2024 will now occur in August 2024. All other terms remain unchanged.

Notice of full year results

The Group intends to publish its full year results on Thursday 22 June 2023.

Facebook
Twitter
LinkedIn
Email
Trending now
Liquid C2 and INOVO partnership
Liquid C2 and INOVO partnership enables African contact centres to effortlessly boost CX through a flexible, fully integrated cloud solution
Liquid Dataport launches its shortest fibre route
Liquid Dataport launches its shortest fibre route connecting the East Coast to the West Coast of Africa
Liquid Dataport and Viasat sign MoU to improve connectivity services
Liquid Dataport and Viasat sign MoU to improve connectivity services for business and consumers in West Africa
Africa Data Centres announces that it will start construction on a new facility in Accra
Africa Data Centres announces that it will start construction on a new facility in Accra, Ghana
Digital Services
Infrastructure solutions
About us
Insights
Investor Centre
Sign up to our newsletter
Contact us

We use cookies to help give you the best possible user experience. By using our site, you agree to the use of cookies by Liquid Intelligent Technologies and its selected partners. To find out more about our use of cookies and/or how you can disable them, please read our cookies statement.