Covenants

The only financial covenants applying to the Group's debt instruments relate to the committed syndicated revolving bank facility. On 31 December 2006 these required Gallaher to maintain interest cover above 3.5 times based on pre-IAS 19 EBITDA, and net debt below a multiple of pre-IAS 19 EBITDA of 3.5 times.

back to top