Financial-Covenant Risk under Syndicated Loan Agreements
First written in FY2016. 8 of 15 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2017: 8 of 59 companies on the "Worse" side.
43 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「Some of the borrowings outstanding at the end of the current consolidated fiscal year are subject to financial covenants.」
The company continues to disclose that some borrowings are subject to financial covenants and that a breach could affect its financial position. - FY2024RestatedAnnual report
「Some of the borrowings outstanding at the end of the current consolidated fiscal year are subject to financial covenants.」
The company continues to disclose that syndicated loans and other borrowings are subject to financial covenants. - FY2023RestatedAnnual report
「The group has entered into syndicated loan agreements to finance the construction of its ocean-going vessels, and the agreements contain financial covenants. If the group breaches these covenants and is required to repay the relevant liabilities in full, this may affect the group's financial position.」
The company continues to disclose the financial covenants under its syndicated loans and the risk of full repayment if they are breached. - FY2021RestatedAnnual report
「Some of the borrowings outstanding at the end of the current consolidated fiscal year are subject to financial covenants.」
The company continues to disclose that syndicated loans and other borrowings are subject to financial covenants. Additional information also sets out specific covenants concerning net assets, ordinary profit or loss and interest-bearing debt. - FY2021-Q3AdvancedAnnual report
「During the third-quarter consolidated accounting period, the company obtained the consent of the Japan Railway Construction, Transport and Technology Agency to change the repayment terms of its borrowings.」
The company specifically disclosed that it had obtained the Japan Railway Construction, Transport and Technology Agency's consent to change the repayment terms for some borrowings. Consent was obtained to defer principal repayments falling due after October 2020, while the deferral period and other details remained under negotiation. - FY2021-Q1MitigatedAnnual report
「The company also obtained from the financial institutions a deferral of principal repayments on some borrowings and new working capital financing.」
Although the breach of financial covenants continues, the company has obtained from the financial institutions not only consent not to exercise their acceleration rights, but also a deferral of principal repayments and new working capital financing. - FY2020MaterialisedAnnual report
「At the end of the current consolidated fiscal year, the company breached financial covenants with respect to ¥1,782.450 million of its borrowings, but obtained the financial institutions' consent to defer exercise of their acceleration rights.」
A breach of financial covenants, for which there had been no applicable matter at the end of the previous fiscal year, actually occurred with respect to ¥1,782.450 million. The company obtained the financial institutions' consent to defer exercise of their rights. - FY2019MitigatedAnnual report
「Current consolidated fiscal year (31 March 2019) There are no applicable matters.」
The company states that there were no applicable matters at the end of the current consolidated fiscal year regarding the breach of financial covenants involving ¥4,977.896 million that had occurred at the end of the previous fiscal year. - FY2019-Q3RestatedAnnual report
「At the end of the previous consolidated fiscal year, the company breached financial covenants with respect to some of its borrowings, but obtained the financial institutions' consent to defer exercise of their acceleration rights.」
The company continues to disclose the breach of financial covenants that occurred at the end of the previous fiscal year and the financial institutions' consent to defer exercise of their acceleration rights. - FY2019-Q2RestatedAnnual report
「At the end of the previous consolidated fiscal year, the company breached financial covenants with respect to some of its borrowings, but obtained the financial institutions' consent to defer exercise of their acceleration rights.」
The company continues to disclose the breach of financial covenants that occurred at the end of the previous fiscal year and the financial institutions' consent to defer exercise of their acceleration rights. - FY2019-Q1RestatedAnnual report
「At the end of the previous consolidated fiscal year, the company breached financial covenants with respect to some of its borrowings, but obtained the financial institutions' consent to defer exercise of their acceleration rights.」
The company continues to disclose the breach of financial covenants that occurred at the end of the previous fiscal year and the financial institutions' consent to defer exercise of their acceleration rights. - FY2018MaterialisedAnnual report
「At the end of the current consolidated fiscal year, the company breached financial covenants with respect to ¥4,977.896 million of its borrowings, but obtained the financial institutions' consent to defer exercise of their acceleration rights.」
A breach of the financial covenants under some syndicated loans actually occurred. The company obtained the financial institutions' consent to defer exercise of their acceleration rights. - FY2018-Q3WorsenedAnnual report
「As of the end of the third-quarter consolidated accounting period, the company determined that there was a high likelihood that it would breach the financial covenants under some of its syndicated loans at the end of the consolidated fiscal year. However, it maintains a close relationship with the arrangers of the syndicated loans and believes that it will obtain their understanding that they will not exercise their rights to accelerate the loans.」
The company determined that there was a high likelihood of breaching the financial covenants under some syndicated loans at the end of the consolidated fiscal year. Meanwhile, it believes that it will obtain the arrangers' understanding that they will not exercise their acceleration rights. - FY2017RestatedAnnual report
「The agreement contains the following financial covenants. If the group breaches these covenants and is required to repay the relevant debt in full, this may affect the group's financial position.」
The company continues to disclose the financial covenants under the syndicated loan agreement and the possibility of full repayment and an impact on financial position if they are breached. - FY2016First statedAnnual report
「The agreement contains financial covenants. If the group breaches these covenants and is required to repay the relevant debt in full, this may affect the group's financial position.」
The company discloses the risk that it may be required to repay borrowings in full if it breaches the financial covenants.