Imtech: Covenant waiver extended, first testing date September 30th 2014
As announced on November 7th 2013, Imtech is currently engaging in a constructive dialogue with its most important financiers regarding an amendment of its financing agreements, including a covenant reset. This covenant reset is required as a result of a slower than anticipated recovery of Imtech`s business, in particular in Germany. As part of these discussions, Imtech`s most important financiers have agreed to extend the covenant holiday. Under the related financing agreements the first covenant testing date was March 31st 2014. The newly agreed first testing date is September 30th 2014.
Imtech expects to publish the reset covenants on or before the publication of its annual results on March 18th 2014.
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| Dorien Wietsma | Jeroen Leenaers |
Imtech profile
Royal Imtech N.V. is a European technical services provider in the fields of electrical solutions, ICT and mechanical solutions. With approximately 29,000 employees, Imtech is active attractive positions in the buildings and industry markets in the Netherlands, Belgium, Luxembourg, Germany, Austria, Eastern Europe, Sweden, Norway, Finland, the UK, Ireland, Turkey and Spain, the European markets of ICT and Traffic as well as in the global marine market. In total Imtech serves 24,000 customers. Imtech offers integrated and multidisciplinary total solutions that lead to better business processes and more efficiency for customers and the customers they, in their turn, serve. Imtech also offers solutions that contribute towards a sustainable society - for example, in the areas of energy, the environment, water and traffic. Imtech shares are listed on the NYSE Euronext Amsterdam, where Imtech is included in the AEX Index.
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