Fletcher unveils $1.25B refinancing plan amid talks over lending breach with US noteholders

Mon, 16 Apr 2018

By Jonathan Underhill April 17 (BusinessDesk) - Fletcher Building has unveiled a $1.25 billion refinancing plan to strengthen its balance sheet after extending talks with US noteholders over a breach of its lending conditions. The Auckland-based construction and building products company is raising $750 million in an underwritten offer to shareholders at a deep discount and has arranged a $500 million standby facility with a group of banks. The standby facility can only be used to repay holders of its $1.1 billion of notes in the US priva...

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