Enjoy SA (ENJOY), a Santiago-based casino owner, said holders of its bonds agreed to give the company until the end of the year to bring its net debt below 4.5 times earnings before exceptional items without suffering penalties.
Enjoy announced the agreement in a statement to the securities regulator today.
The terms of the bonds, first sold in 2010, specified that the company had to get that ratio below “4.5 times during the year 2012, and four times from the year 2013 onwards.” The ratio stood at 5.66 times at the end of 2011, according to Enjoy’s financial results for that year.
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