Vulcan Steel (ASX:VSL, NZE:VSL) secured an extension of relaxed covenant thresholds from its banking syndicate through June 30, 2026, according to a Tuesday filing with the New Zealand and Australian bourses.
Initially granted in October 2024 and scheduled to expire on Dec. 31, the covenant relaxation supports the company's liquidity and debt-free status until fiscal 2027, the filing said.
Facing economic uncertainty, Vulcan secured extra flexibility to preserve working capital and meet growing demand in Australia and New Zealand over the next year, the filing added.
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