Covenant Tracker
Liquidity

Cash plus undrawn committed facilities.

Cash

45

Undrawn Facilities

75

Total Available Liquidity

120

Gross Debt

420

Net Debt

375

Covenant Headroom

Net Debt / EBITDA and EBITDA / Interest Expense against their covenant thresholds.

Leverage (Net Debt / EBITDA)

3.95x

covenant max 4.00x

Tight

1.3% headroom before breach

Interest Cover (EBITDA / Interest)

3.39x

covenant min 2.50x

Healthy

35.7% headroom before breach