e2v technologies amends loan, waiving covenants, modifying size

By Sara Rosenberg

New York, Sept. 30 - e2v technologies plc amended its credit facility, waiving financial covenants for Sept. 30 and revising the facility size to £150 million, according to a news release.

Also, the amendment added a covenant test due on Nov. 30. This covenant will include the benefit of proceeds arising from any potential equity capital raising, provided that it has been both fully underwritten and approved by shareholders by Nov. 30.

Preparations are now under way for a potential equity capital raising by the company to meet this timetable.

Credit facility lenders were paid a 75 basis point fee for their consents.

e2v is a U.K.-based developer and manufacturer of high technology components and sub-systems.

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