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Findus Talks to Lenders About Covenant Test, Sunday Times Says

Findus Foods, maker of frozen food and Young’s Seafood, asked lenders to waive a quarterly covenant test at the end of 2011 which determines how it’s able to meet its debt obligations, the Sunday Times reported, without saying where it got the information.

The company is trying to renegotiate more than 700 million pounds ($1.09 billion) of loans it owes to banks and other debt providers, the paper said.

To contact the reporter on this story: Nandini Sukumar in London at nsukumar@bloomberg.net

To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net

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