Elkem ASA – Waiver process successfully concluded
Oslo, 12 March 2024 Elkem has initiated a waiver process with the lenders regarding the financial covenants in its loan agreements. This process has now been successfully concluded. Elkem has two financial covenants in its loan agreements: · Interest Cover Ratio shall exceed 4.00:1.00, and · Equity Ratio shall be equal to or more than 30%. The financial covenants are applicable to Elkem’s EUR 1,000 million bank facility and Schuldschein loans in the total amount of EUR 261 million. The lenders have now granted a temporary waiver of the Interest Cover Ratio for each of