RB 27/2020 Supplement to the report RB 27/2020: Waivers related to bank covenants
January 04, 2021 at 03:22 am
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In relation to the current report RB 27/2020 published on December 31 2020, AmRest Holdings SE ('AmRest', the 'Company') provides a supplement to the report:
Pursuant to the provisions of Article 227 of the restated text of the Securities Market Law and in relation to the current report RB 27/2020 (the other relevant information notice number 6447) published on December 31 2020, AmRest Holdings SE ('AmRest', the 'Group') provides a supplement to the report:
It is further stated (i) that the waiver obtained from the bondholders (Schuldschein) to the compliance with certain financial covenants related to the Group's leverage and interest coverage ratios was approved by a majority of 77% (above the required 70%) and (ii) that the required minimum level of liquidity of the new covenant assumed by the Group is 80 million euros, which is lowered to 50 million euros for the third and fourth quarters of 2021.
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AmRest Holdings SE published this content on 04 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 January 2021 08:21:09 UTC
Amrest Holdings SE is a Spain-based company active in the restaurants and bars sector. The Companyâs core activity is operating Kentucky Fried Chicken (KFC), Pizza Hut, Burger King and Starbucks restaurants through its subsidiaries in Poland, the Czech Republic, Hungary, the Russian Federation, Serbia, Croatia, Bulgaria, Spain and France, on the basis of franchises granted, and Applebeeâs in the United States. Additionally, in Spain and France the Company operates its own brands La Tagiatella, Trastevere and il Pastificcio. It also operates PizzaPortal.pl, an online portal for ordering food from various restaurants. The Company operates through subsidiaries, such as AmRest Sp z o o, AmRest sro, AmRest doo, AmRest Adria doo, Blue Horizon Hospitality Group PTE, AmRest TAG SL, SC Marinopoulos Coffee Company III Srl and Marinopoulos Coffee Company Bulgaria EOOD, among others.