Fletcher to maintain credit lines 'for rainy day', keeps eye out for distribution assets

Wed, 17 Feb 2016

By Jonathan Underhill Feb. 18 (BusinessDesk) - Fletcher Building, which has about $600 million in undrawn credit lines and cash, plans to maintain its debt facilities for a "rainy day" and to give it more flexibility to acquire new businesses, says chief executive Mark Adamson. The listed building supplies and construction group had about $2.3 billion of debt and credit facilities stretching out to 2027 as at Dec. 31, of which it had drawn $1.9 billion. Currently 2017 is the year it faces the biggest maturity, at $372 million. The company...

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