NIPPON COKE & ENGINEERING COMPANY,LIMITED [3315.T]
TOKYO, Apr 30 (Pulse News Wire) – Nippon Coke & Engineering Company,limited (3315.T) announced changes to financial covenants on its syndicated loans effective April 30, 2026. The modifications follow previous adjustments made to commitment lines in September 2024.
Key changes include revising net asset maintenance requirements to ensure the amount does not fall below ¥1,489 billion as of March 2026, up from the prior requirement based on the higher of either the fiscal year ended March 2021 or the immediately preceding fiscal year. Additionally, the covenant now requires operating profit to avoid two consecutive negative quarters. For the 2022 May contract syndicated loan, the revised agreement was signed, with an initial signing date of May 31, 2022. The total amount arranged was ¥2,083 billion, with a balance of ¥1,489 billion as of March 31, 2026.
The loan is unsecured and set to mature on March 29, 2030. Regarding the September 2024 contracts A, B, and C, the revised agreements were also finalized. Each tranche had varying purposes—equipment funding for Tranche A, operational capital for Tranches B and C—with respective balances of ¥1,489 billion, ¥1,489 billion, and ¥1,489 billion as of March 31, 2026. All tranches are scheduled to mature on September 28, 2029; September 29, 2028; and September 30, 2031 respectively.
The impact of these covenant revisions on the company's consolidated performance is anticipated to be reflected in the forecast for the fiscal year ending March 2027, which is expected to be disclosed on May 15, 2026.
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