UPDATE: Fletcher likely working hard to get lenders onside to avoid having to raise new capital

Wed, 07 Feb 2018

(Adds investor comment, details of debt, gearing, recasts lede) By Jonathan Underhill Feb. 8 (BusinessDesk) - Fletcher Building, which expects to breach its debt covenants because of further "material losses" at its building and interiors (B+I) business, is probably in urgent talks with its banking syndicate and investors in the private placement market to avoid having to issue new capital. Auckland-based Fletcher had net debt of $1.95 billion as at June 30 last year. Its biggest source of debt funding is the private placement market a...

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