{"id":179271,"date":"2025-12-12T00:33:11","date_gmt":"2025-12-12T00:33:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/179271\/"},"modified":"2025-12-12T00:33:11","modified_gmt":"2025-12-12T00:33:11","slug":"comvita-secures-lender-deal-as-it-targets-25m-capital-raise","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/179271\/","title":{"rendered":"Comvita secures lender deal as it targets $25m capital raise"},"content":{"rendered":"<p class=\"ZYUOfoYRjneFbDGdUm\" style=\"display:none\">\u201cThe agreement with the lending syndicate reflects that and includes the extension of the maturities of the company\u2019s expiring banking facilities, currently due in January and March, through to April 30, 2026, and the granting of further covenant waivers for the March 31, 2026, testing date,\u201d the company said.<\/p>\n<p class=\"ZYUOfoYRjneFbDGdUm\" style=\"display:none\">Comvita also agreed to a temporary covenant related to minimum earnings before interest and tax for the six months ending December 31, 2025, and staged facility reductions through to the end of March, 2026, both of which Comvita expects to meet based on present business performance.<\/p>\n<p class=\"ZYUOfoYRjneFbDGdUm\" style=\"display:none\">\u201cComvita is in constructive, but early, dialogue with several parties, as to their support for the company and the role they can play in any capital raise,\u201d it said.<\/p>\n<p class=\"ZYUOfoYRjneFbDGdUm\" style=\"display:none\">\u201cThis includes investors with no current shareholding who have indicated a material interest in participating, as well as existing shareholders who have indicated they wish to increase their holdings.<\/p>\n<p class=\"ZYUOfoYRjneFbDGdUm\" style=\"display:none\">\u201cAt this stage, no binding commitments or arrangements have been agreed.<\/p>\n<p class=\"ZYUOfoYRjneFbDGdUm\" style=\"display:none\">\u201cThe board and its advisers are assessing all options in line with the company\u2019s obligations to consider the interests of all shareholders and the objectives shared between the company and its lending syndicate,\u201d it said.<\/p>\n<p class=\"ZYUOfoYRjneFbDGdUm\" style=\"display:none\">The Florenz takeover attempt came as the m\u0101nuka honey industry struggled with oversupply and aggressive discounting.<\/p>\n<p class=\"ZYUOfoYRjneFbDGdUm\" style=\"display:none\">Comvita\u2019s last result showed it sank deeper into the red with a loss of $104.8m for the year to June 30 from $77.4m a year earlier.<\/p>\n<p class=\"ZYUOfoYRjneFbDGdUm\" style=\"display:none\">Jamie Gray is an Auckland-based journalist, covering the financial markets, the primary sector and energy. He joined the Herald in 2011.<\/p>\n<p>Stay ahead with the latest market moves, corporate updates, and economic insights by subscribing to our <a href=\"https:\/\/www.nzherald.co.nz\/my-account\/profile\/newsletters\/?from=cmp\" target=\"_self\" rel=\"nofollow noopener\" title=\"https:\/\/www.nzherald.co.nz\/my-account\/profile\/newsletters\/?from=cmp\">Business newsletter<\/a> \u2013 your essential weekly round-up of all the business news you need.<\/p>\n","protected":false},"excerpt":{"rendered":"\u201cThe agreement with the lending syndicate reflects that and includes the extension of the maturities of the company\u2019s&hellip;\n","protected":false},"author":2,"featured_media":162685,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[654,4763,806,138,1288,1656,71777,3468,103238,33213,702,16398,47786,1132,45393,111,139,69,5204,2515,20488,114416,53656,50435,8220,1361,1533,102],"class_list":["post-179271","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-25m","tag-allow","tag-as","tag-business","tag-capital","tag-company","tag-comvita","tag-deal","tag-exporter","tag-honey","tag-it","tag-lender","tag-lenders","tag-million","tag-mnuka","tag-new-zealand","tag-newzealand","tag-nz","tag-process","tag-raise","tag-reached","tag-recapitalise","tag-require","tag-secures","tag-targets","tag-that","tag-will","tag-with"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/179271","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=179271"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/179271\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/162685"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=179271"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=179271"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=179271"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}