Fletcher negotiates easier bank covenants but says it doesn't need them yet

Wed, 10 Jun 2020

Fletcher Building said it has negotiated easier covenants through to the end of 2021 with its bankers in case they become necessary as the company navigates through the coronavirus crisis. But if it does need the easier covenants, Fletcher has agreed not to pay a dividend until it returns to its normal covenants. "We believe our current balance sheet sets us up well for the period ahead. That said, we are also taking steps beyond this to ensure we will be well placed to negotiate the uncertain trading environment ahead," chief executive...

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