Kenmare Resources (CDI) (KMR): RCF covenant amendment talks

This situation live

£210m · 225.0p · +1% since the first step

Balance-sheet stress / refinancing

RCF covenant amendment talks

RCF upsized and covenants adjusted

Next: Debt reduction from post-period receipts and H2 cash flow

Every step · 4

25 Mar 2026 In discussions with lender group – Kenmare is in discussions with its Lender group regarding adjustments to its Revolving Credit Facility (“RCF”), including amendments to covenant levels, in... ↗
10 Apr 2026 Still in discussions with lender group – Kenmare is in discussions with its Lender group regarding adjustments to its Revolving Credit Facility (“RCF”), including amendments to covenant levels, in... ↗
16 Jul 2026 Resolved: RCF upsized, covenants adjusted – We were also pleased to secure a $30 million upsize to our $200 million Revolving Credit Facility during the quarter which, along with adjustments to... ↗
19 Aug 2026 RCF upsized and covenants adjusted – Revolving Credit Facility (“RCF”) upsized by $30 million to $230 million, which, along with adjustments to financial covenants, provides important... ↗

What is happening

Kenmare Resources (CDI): RCF covenant amendment talks – RCF upsized and covenants adjusted. ['RCF upsized and covenants adjusted']

In short: Net debt rose to $175.8m at 30 June 2026 from $158.8m at end 2025 as prices fell. The RCF was upsized by $30m to $230m with covenant adjustments, which the company says gives additional flexibility. Strong receipts were recorded after period-end. The 2025 final dividend was suspended earlier in 2026.
Announced: 25 Mar 2026 · In discussions with lender group
Latest: 19 Aug 2026 · RCF upsized and covenants adjusted
Lender talks: Adjustments to the RCF, including amendments to covenant levels
Dividend: 2025 final dividend suspended; resumption when prudent and financing facilities permit
2026 capex: About $30 million WCP A development and $30 million sustaining
Outcome: $30 million upsize to the $200 million Revolving Credit Facility, secured in Q2 2026
Covenants: Adjustments to financial covenants agreed
RCF: Upsized by $30m to $230m, with adjusted financial covenants
Liquidity: Cash of $31.0m; debt of $206.0m
After period-end: Strong receipts recorded post-period-end

Debt reduction from post-period receipts and H2 cash flow.

Briefing Pro

What it does, how it got here, what management promised and delivered – written from its own announcements.

From the company's own announcements. Not investment advice.

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