Fletcher drew down $280M on bank facility it now plans to clear with capital raise

Tue, 17 Apr 2018

By Jonathan Underhill April 17 (BusinessDesk) - Fletcher Building drew down $280 million against its bank facilities in the first three months of 2018, pushing total bank debt to $714 million, the amount it now plans to repay through a discounted stock offer to strengthen its balance sheet. Repayment of bank debt is the only change Fletcher sees in its funding facilities, according to a presentation today. The building products and construction company assumes no change in US private placement notes at $1.1 billion, other capital notes at...

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