Fri 05/20/2022 11:45 AM
Cerelia Secondary Loan Coverage by Reorg's EMEA Core Credit team.
Cerelia has scheduled a lender call for Wednesday, May 25, during which the French dough maker plans to present a waiver request to lenders, sources told Reorg. The Ardian-owned group comfortably passed the springing net leverage test under its RCF at the end of its third quarter with over two turns of headroom. But with leverage on an upward trend for the last 12 months and raw material inflation near halving EBITDA in...
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