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Fletcher Building raises $US300m to repay bank debt

Fletcher Building has raised $US300 million in long-term debt through a private placement with US investors.

The placement has maturities of ten and twelve years. The proceeds have been used to repay borrowings drawn under Fletcher Building’s principal bank facilities.

In a statement to NZX, the building company says the funds raised have been swapped into Australian dollars in a mix of fixed and floating interest rates.

Comments and questions
4

Into debt and taxpayer will bail-out later.

I doubt you pay taxes anyway with such an ill informed comment.

Well Matt Y, that has to be the best reply to an idiotic comment that I have read. Fantastic 10/10.
Why do these people comment on things they know nothing of?

Fletchers obviously need the money, to prop up there failing investments; especially the recent large purchase in Australia.

CEO Ling looks like a fair weather sailor to me. Ask yourself why you would buy (paying double)at the top of a business cycle? Not too mention, the sad state of Placemakers!!

I'd be surprised if Ling survived winter.