According to their loan facility agreement it appears the must current repayment required is a $1m payment on the 1st December. There are other mandatory repayments but it looks like most of these are due next year in March and August. If their bank exceeds $10m they must also hand over excess cash.
Their financial covenants are checked and based on each quarter (September 2015 being the most recent). Presumably they were okay then given the time since quarter end and determining that they are compliant (i..e they would have know a while back).
I suspect they have been able to get better terms to assist with the repayment of some $5m due in the next 12 months.
All guestimates, however, given their strong asset base I would assume the banks are likely to be more flexible now that things and regulatroy matters have settled. Should find out soon. If its good news I suspect a decent run.
VET Price at posting:
12.0¢ Sentiment: None Disclosure: Not Held
