AmRest Holdings, SE (“AmRest” or the “Company”), in compliance with the provisions of article 227 of the revised text of the Securities Market Law, presents update on business and financial situation.
It is hereby reported that, in timely compliance with its financial payment obligations and following the corresponding maturity calendar, AmRest has partially repaid the syndicated loan it has with its financing banks through the repayment in September 2020 of the amount of EURO 56.8 million. AmRest holds a financial position solid enough to meet its different financial commitments.
Likewise, AmRest has also obtained already from said financing banks a waiver for the fulfillment of certain financial commitments (covenants) linked to the Group’s leverage for the third quarter of 2020. Consequently, the long-term debt at the end of the third quarter has been reclassified as non-current liabilities.
As regards business performance, the number of restaurants that have resumed operations has gradually increased, reaching over 98% of the total number of restaurants operated by the Group.