We seek to maintain a capital structure which enables us to continue as a going concern and supports our business strategy
We seek to mitigate our debt financing risk by diversifying our sources of loan finance and maturity dates. The bank loan and corporate bond markets are currently used for this purpose.
Our 2018 YE consolidated leverage expressed as (current and non-current bank borrowings and finance leases - cash) / reported EBITDA was 2.5 (SuperSport's full year EBITDA included).
The SAZKA Group is rated BB- (stable outlook) by S&P (S&P's latest report from November 2019).
Our maintenance covenants
|Net debt/EBITDA||Interest cover|
|EUR 200m SUN SG 4.00/2022
CZK 6bn SUN SG 5.20/2024 (ISIN: CZ0003522930)
< 4.75x on pro-rata basis until YE 2020
< 4.5x on pro-rata basis from 2021