Fletcher gains waiver from private placement noteholders

Thu, 01 Mar 2018

By Jonathan Underhill March 1 (BusinessDesk) - Fletcher Building says it got a waiver from its noteholders in the US private placement market after losses at its Building + Interiors unit caused the company to breach its lending covenants. The waiver is subject to conditions which Fletcher expects to satisfy in coming days. The company gained a waiver from its banking syndicate on Feb. 13. Fletcher said it is now in talks with the bank syndicate and USPP noteholders about amendments to the terms of its funding arrangements, which chief...

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