NIPPON COKE & ENGINEERING COMPANY,LIMITED [3315.T]
TOKYO, Apr 24 (Pulse News Wire) – Nippon Coke & Engineering Company,limited (3315.T) revised the financial covenants and extended the maturity date of its existing commitment line agreement. The changes were made due to adjustments in net asset value resulting from coke production optimization and recent performance impacts.
Under the updated agreement, the debt limit remains at ¥24.80 billion. The new covenant requires maintaining net assets at more than 80% for the fiscal year ending March 2026, compared to the previous requirement of 70% for either the fiscal year ended March 2018 or the immediately preceding period. Additionally, the agreement stipulates that operating profit should not show consecutive losses over two periods.
The revised contract was signed, originally established on December 10, 2018. It includes participation from 14 banks led by Sumitomo Mitsui Banking Corporation. The commitment period now ends on April 30, 2027, previously set for April 30, 2026.
Looking ahead, the impact of this agreement revision will be reflected in the company’s forecast for the fiscal year ending March 2027, which is scheduled for release on May 15.
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