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.