{"id":6554,"date":"2020-05-19T11:17:21","date_gmt":"2020-05-19T11:17:21","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=6554"},"modified":"2026-04-24T05:08:55","modified_gmt":"2026-04-24T08:08:55","slug":"tabcorp-debt-australia","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/tabcorp-debt-australia","title":{"rendered":"Tabcorp secures debt waiver from bank lenders"},"content":{"rendered":"\n<p>The waiver covers the next two testing dates for the AU$2.2billion debt which occur on June 30 and December 31.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Australia.- The largest gambling company in Australia, Tabcorp, has received a debt waiver from bank lenders as it fights the financial impact of Covid-19.<\/p>\n\n\n\n<p>This was reached under its syndicated facility agreement (SFA) for a waiver of leverage and interest covenants on an estimated AU$2.2billion of debt until 2021.<\/p>\n\n\n\n<p>The waiver covers the next two testing dates for the debt which occur on  June 30 and December 31. <\/p>\n\n\n\n<p>Tabcorp CEO, David Attenborough, said: &#8220;The waivers complement recent actions we have taken to preserve our liquidity and mitigate the financial and earnings impacts of Covid-19.<\/p>\n\n\n\n<p>&#8220;Tabcorp continues to work proactively and collaboratively with all our stakeholders to emerge from the Covid-19 period as strongly as possible.&#8221;<\/p>\n\n\n\n<p>In April, <strong><em><a href=\"https:\/\/focusgn.com\/asia-pacific\/australia-tabcorp-lays-off-700-employees\">the company laid off 700 employees<\/a><\/em><\/strong> as part of cost management measures resulting from the pandemic.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The waiver covers the next two testing dates for the AU$2.2billion debt which occur on June 30 and December 31.<\/p>\n","protected":false},"author":2,"featured_media":6557,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Australia's largest gambling operator, Tabcorp, has secured a debt waiver from its bank lenders for AU$2.2 billion under its syndicated facility agreement. This waiver, covering leverage and interest covenants until 2021, is a direct response to the financial and earnings impacts of the Covid-19 pandemic, complementing prior cost management actions including employee layoffs.","focusai_entities":"Tabcorp, David Attenborough","focusai_location":"Australia","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.8), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Debt Restructuring Impact?","query":"What are the long-term implications of this debt restructuring on Tabcorp's capital expenditure, dividend policy, and market expansion strategies post-Covid-19?"},{"label":"Competitive Landscape Shift?","query":"How does this waiver impact Tabcorp's competitive positioning within the Australian iGaming and retail wagering markets, particularly concerning potential M&A activities or regulatory shifts?"}],"footnotes":""},"categories":[16336,161,163],"tags":[289,13716],"class_list":["post-6554","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-daily-news","category-finance-news","tag-australia","tag-tabcorp"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/6554","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=6554"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/6554\/revisions"}],"predecessor-version":[{"id":22117,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/6554\/revisions\/22117"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/6557"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=6554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=6554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=6554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}