Dye & Durham Debt and Leverage Explained
Using the latest annual financial statements and MD&A: the senior credit facility, revolving credit facility, term loan, senior secured notes, convertible debt, maturities, finance costs, leverage ratios and asset-sale repayment requirements. At 30 June 2026 the company reported compliance with its financial-maintenance covenants and a Consolidated First Lien Net Leverage ratio of approximately 5.17x.
The concise answer
Dye & Durham's debt structure, as described in its latest annual financial statements and MD&A, comprises a senior credit facility (including a term loan and revolving credit facility), senior secured notes, and convertible debt where relevant. Finance costs rose to approximately C$147.9m in FY2026. At 30 June 2026 the company reported compliance with its financial-maintenance covenants and a Consolidated First Lien Net Leverage ratio of approximately 5.17x.
Debt instruments
| Instrument | Description |
|---|---|
| Senior credit facility (term loan + revolver) | Primary secured lending facility; subject to financial-maintenance covenants and the 2025 waivers/amendments. |
| Senior secured notes | Secured debt instruments ranking ahead of unsecured creditors; fixed interest and defined maturity. |
| Convertible debt (where relevant) | Debt convertible into equity under defined terms, where disclosed in the company's filings. |
- ›At 30 June 2026 the company reported compliance with its financial-maintenance covenants.
- ›The Consolidated First Lien Net Leverage ratio was approximately 5.17x at 30 June 2026.
- ›Finance costs were approximately C$147.9m in FY2026, up from approximately C$132.8m in FY2025.
- ›Credas sale proceeds (approximately C$146.3m gross) were intended principally for debt reduction.
Leverage and covenants
The senior credit agreement includes financial-maintenance covenants, typically expressed as maximum leverage ratios. The company's reported Consolidated First Lien Net Leverage ratio of approximately 5.17x at 30 June 2026 was within its disclosed covenant compliance. The 2025 filing delay triggered a default that was managed through waivers and an amendment; this site does not claim lenders accelerated the debt.
Asset-sale repayment requirements
The Credas disposal for approximately £77.8m (approximately C$146.3m gross) was intended principally for debt reduction. Where the credit agreement requires excess proceeds from asset sales to be applied to debt repayment, subsequent filings should be checked for the actual application of proceeds. See asset sales and deleveraging.
At 30 June 2026, Dye & Durham reported compliance with its financial-maintenance covenants and a Consolidated First Lien Net Leverage ratio of approximately 5.17x.
Frequently asked questions
How much debt does Dye & Durham have?
The company's debt structure comprises a senior credit facility (term loan and revolver), senior secured notes and, where relevant, convertible debt. Exact balances should be read from the latest audited balance sheet and MD&A on SEDAR+.
Is Dye & Durham in compliance with its debt covenants?
At 30 June 2026 the company reported compliance with its financial-maintenance covenants and a Consolidated First Lien Net Leverage ratio of approximately 5.17x.
Did asset sales reduce debt?
The Credas disposal (approximately C$146.3m gross proceeds) was intended principally for debt reduction. See the asset-sales page for where proceeds went based on subsequent filings.