On The Beach extends line of credit, resets covenant tests

(Reuters) - Holiday package provider On The Beach said on Wednesday it had reached an agreement with its lender to extend a 50 million pound revolving credit facility till Dec. 2023 and reset covenant tests till June 2021.The company, which suspended its dividend and full-year forecast, said it would end first-half of fiscal 2021 with limited drawdown of its credit facilities and significant headroom based on stress tests.