Redcape Obtains Debt Facility Support From its Lending Partners

  • May 01, 2020 AEST
  • Team Kalkine

Redcape Hotel Group (ASX:RDC) reveals that the lender group of the Company has agreed to provisionally vary a few terms contained within the loan agreement of Redcape which will ensure that RDC has financial certainty through the Government enforced temporary closure of its venues.

In addition to this, the lender group has also agreed to temporarily modify financial covenants that are impacted negatively because of the shutdown of the trading business of the Redcape Hotel.

Share price RDC climbed by 3.226% to $0.640, post announcement on 1 May 2020 (at AEST 11:50 PM).


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