Sharechat Logo

VSL - Vulcan extends its banking arrangement

Tuesday 24th June 2025

Text too small?

Vulcan Steel Limited (Vulcan) is pleased to advise that following constructive discussions, the company’s banking syndicate has granted an extension of the relaxation of covenant thresholds through to 30 June 2026. The relaxation was first granted in October 2024 and due to expire on 31 December 2025. The company continues to operate with strong liquidity and has no debt facilities maturing until the financial year ending 30 June 2027 (FY27).

 

In a still-uncertain global and domestic economic environment, Vulcan has taken this pre-emptive step to ensure it retains ample working capital headroom. The additional flexibility positions the Company to meet customer demand as activity levels in Australia and New Zealand improve over the next 12 months.

 

“Our lenders have again demonstrated their confidence in Vulcan’s disciplined approach to capital management, our business model and long-term growth strategy. Extending the covenant relief provides the balance-sheet flexibility to navigate the current demand environment while continuing to invest in customer-facing initiatives,” said Managing Director and Chief Executive Officer, Rhys Jones.

 

ENDS

 

Kar Yue Yeo and Sarah-Jane Lawson

Investor and media contacts

Email: karyue.yeo@vulcan.co

Email: sarah-jane.lawson@vulcan.co

Phone: +64 9 273 7214

 

This announcement was authorised by Vulcan’s Board of Directors.

 

About Vulcan

 

Founded in 1995, Vulcan is an Australasian-wide industrial product distributor and value-added processor with 66 logistics and processing facilities employing approximately

1,300 employees across the company’s Steel and Metals divisions.

 

 



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

NWF - NZ Windfarms shareholders approve Meridian acquisition
GMT - GMT and GMT Bond Issuer Limited 2025 Annual Report
FBU - Fletcher Building Investor Day
June 24th Morning Report
DOW - Retirement and appointment of Non-Executive Directors
TWL - TradeWindow raises $600k in placement to accelerate growth
Ryman announces new Chief Financial Officer
Spark accepts offer for HTAL shareholding
June 23rd Morning Report
MNW - Senior management changes