Pan-African leading technology solutions group Liquid Intelligent Technologies (https://www.Liquid.Tech), a business of Cassava Technologies, today announces the extension of Liquid’s net debt:EBITDA covenant threshold in respect of its ZAR term loan and RCF.
Earlier this year we engaged with our lending partners on a pre-emptive basis due to the prospect of further exchange rate volatility in certain markets. Following constructive discussions we are pleased to announce deferrals in the step down schedule for the net debt:EBITDA covenant threshold in respect of our ZAR term loan and RCF.
![Deon Geyser, CEO of Liquid Intelligent Technologies South Africa](https://i0.wp.com/afrikanheroes.com/wp-content/uploads/2021/04/Deon-Geyser.jpeg?resize=600%2C402&ssl=1)
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As a result, the step down from 4.0x to 3.5x that was due to take place in May 2023 will now occur in February 2024 and a second step down from 3.5x to 3.0x that was due to take place in May 2024 will now occur in August 2024. All other terms remain unchanged.
Kelechi Deca
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Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry