StockMarketWire.com - Petra Diamonds said that its lenders had agreed to amend the earnings-related elements of its debt covenants for South African borrowings.

Among the changes, the consolidated net debt-to-consolidated Ebitda covenant ratio in the year through June had been stretched to at least 4.5 times, up from the previous 2.5 times.

The ratio would gradually declined to 3.0 times for the year through June 2021.

'The agreement of our lender group to amend the financial covenant levels relating to our banking facilities demonstrates their continued support of Petra's business and strategy, to deliver consistent production from our diversified portfolio of assets in order to drive free cash flow generation and reduce our net debt,' chief executive Richard Duffy said.


At 2:34pm: [LON:PDL] Petra Diamonds Ltd share price was +0.12p at 20.26p



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