| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers R > Headlines for Royster-Clark Inc. > News item |
Royster-Clark granted waivers of covenant violations
New York, March 30 - Royster-Clark, Inc. said it received waivers of covenant violations on its $225 million senior secured revolving credit facility.
The New York-based distributor of fertilizer, seed and other farm products had failed to meet the minimum EBITDA covenant of $58 million as of Dec. 31, 2004.
In addition to the waiver, the lenders amended the minimum EBITDA and tangible net worth covenants for the remaining term of the credit facility, according to a 10-K filing with the Securities and Exchange Commission.
U.S. Bank, CIT and Bank of America are the lead banks in the syndicate of nine lenders.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.