AI assistant
FLETCHER BUILDING LIMITED — Capital/Financing Update 2007
Sep 20, 2007
64902_rns_2007-09-20_6ae19c1c-cb2e-4aaf-b892-4e4a4c8381dc.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
News Release
==> picture [103 x 69] intentionally omitted <==
STOCK EXCHANGE LISTINGS: NEW ZEALAND (FBU), AUSTRALIA (FBU).
FLETCHER BUILDING COMPLETES ANOTHER US DEBT PRIVATE PLACEMENT
Auckland, 21 September 2007 – Fletcher Building advises that it has successfully completed an issue of guaranteed senior fixed rate notes in the US Private Placement debt market. The total issue of notes amounted to US$325 million with maturities in 2016 and 2019, and will be completed in two drawings, the first closing which occurred today and the second closing is to occur on 1 October 2007. Ten US institutional investors participated in the note offer.
Bill Roest, Chief Financial Officer of Fletcher Building, stated that the note issue has been undertaken to replace the bridge finance facilities utilised to fund the acquisition of Formica Corporation. The new United States debt issue provides extended terms to further improve the Company’s debt maturity profile and diversify its sources of funding.
The Company has also refinanced its senior bank facility as part of the finalisation of the acquisition of Formica Corporation.
Contact:
Bill Roest Sara Double Chief Financial Officer Treasurer Phone: +64 9 525 9165 Phone: +64 9 525 9339 Fax: +74 9 525 9032 Fax: +64 9 525 9029 Email: [email protected] Email: [email protected]
This press release does not constitute an offer to sell or a solicitation of an offer to buy the notes. The notes have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration under or an applicable exemption from the registration requirements of the Securities Act of 1933, as amended, and applicable state securities laws.
End