Corus Entertainment makes temporary financial covenant change

By Wendy Van Sickle

Columbus, Ohio, Feb. 17 – Corus Entertainment Inc. amended its existing syndicated credit facility with RBC Capital Markets LLC and TD Securities as leaders of the lending group, according to a company news release.

Under the amendment, the maximum total debt to cash flow ratio required under the financial covenants is increased through Nov. 30, 2023.

The amendment also includes a financial covenant which, in the event that the total debt to cash flow ratio exceeds a certain level, may restrict distributions.

Corus Entertainment is a media and entertainment company based in Calgary, Alta.

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