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LONDON (Alliance News) - Surgical Innovations Group PLC on Tuesday said it has reached an agreement with Yorkshire Bank on the earnings before interest, taxation, depreciation and amortisation covenant on the loan the bank has provided to the company.
Surgical Innovations said the Ebitda covenant has been reset at a loss of GBP100,000 for the year to the end of December. The company intends to renegotiate revised covenant levels for each quarterly period following the end of the year.
Shares in Surgical Innovations were down 6.1% to 1.0801 pence on Tuesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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