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- Release Date: 24/02/12 16:45
- Summary: GENERAL: FBU: Completion of a Yen 10 billion long term debt placement
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FBU
24/02/2012 14:45
GENERAL
REL: 1445 HRS Fletcher Building Limited
GENERAL: FBU: Completion of a Yen 10 billion long term debt placement
Auckland, 24 February 2012 - Fletcher Building announces that it has raised
Yen 10 billion (approximately NZ$150 million; AUS$120 million) in long term
debt through a private placement of notes offered to Japanese Institutional
Investors.
The notes have a fixed rate coupon and have been issued for a term of 15
years. The proceeds of the placement have been swapped to floating Australian
Dollars and have been used to repay existing borrowings drawn under Fletcher
Building's principal bank facilities.
"We are very pleased to be able to issue 15 year debt in a new currency with
a new investor base", commented Fletcher Building's chief financial officer,
Bill Roest, "this issue further diversifies our debt funding sources and
lengthens the duration of Fletcher Building's debt portfolio, a strategy that
has also been applied with the US private placement completed in January
2012"
The notes were issued under Fletcher's newly established multi-currency
Australian Medium Term Note Programme (AMTN.
Fletcher Building worked with Morgan Stanley on the transaction.
For further information contact:
Philip King
General Manager Investor Relations
Phone: + 64 9 525 9043
Mobile: + 64 27 444 0203
End
End CA:00220007 For:FBU Type:GENERAL Time:2012-02-24 14:45:02
