The following ratios are measured twice annually, on a rolling twelve month period at 30 June and 31 December, respectively.
| Maintenance Covenants |
30 Jun 2017 |
31 Dec 2017 |
30 Jun 2018 onwards |
| Consolidated Net Debt1 to Consolidated EBITDA |
2.80:1 |
2.80:1 |
2.50:1
|
| Consolidated EBITDA to Consolidated Net Finance Charges |
3.50:1 |
3.85:1 |
4.00:1 |
| Consolidated Net Senior Debt2 to Book Equity3 |
0.4:1 |
0.4:1 |
0.4:1 |
| Distribution Covenants |
30 Jun 2017 |
31 Dec 2017 |
30 Jun 2018 onwards |
| Consolidated Net Debt1 to Consolidated EBITDA |
2.00:1 |
2.00:1 |
2.00:1 |
| Consolidated EBITDA to Consolidated Net Finance Charges |
6.00:1 |
6.00:1 |
6.00:1 |
| Consolidated Net Senior Debt2 to Book Equity3 |
0.3:1 |
0.3:1 |
0.3:1 |
- Consolidated net debt is loans and borrowings, less cash, less diamond debtors
- Consolidated Net Senior Debt means at any time the Consolidated Gross Debt (excluding any second lien and other subordinated debt)
- Book Equity is Equity excluding accounting reserves.
