NRC Group ASA Proposes Bond Covenant Waiver

NRC Group ASA (NNRRF) has released an update.

NRC Group ASA is seeking a temporary waiver for the Interest Coverage Ratio covenant from its bondholders for its NOK 400 million bond issue, maturing in 2027. The Proposal, which has already received pre-approval from a majority of bondholders, is contingent upon the company raising a minimum of NOK 200 million in new cash equity by the end of 2024. The company has also secured new financial covenants and waivers for its bank and bond debt for the upcoming year.

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