The required minimum book equity ratio has been adjusted from 40% to 33.3% and the minimum free liquidity covenant adjusted from 4.0% to 3.0% of Net Interest Bearing Debt. These amendments are effective from year end 2019 and into 2021.
The Company continues to be in constructive negotiations with the shipyard for options to extend delivery of three of its remaining newbuilds and expect to conclude these negotiations in the near future.
Forward looking statements
This announcement includes forward looking statements. Forward looking statements are, typically, statements that do not reflect historical facts and may be identified by words such as 'anticipate', 'believe', 'continue', 'estimate', 'expect', 'intends', 'may', 'should', 'will' and similar expressions and include expectations regarding outcome of negotiations about the delivery of newbuilds including expected delivery timing. The forward-looking statements in this announcement are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although
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