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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.