Company News Summary | 30 Jun 2020
Click the print icon in your browser to print this report. Currency is in AUD unless otherwise specified
Fletcher Building Announces Early Repayment of US$300m of USPP Notes
07:34:00 | Associate analysts
Original annuncemenet:Fletcher Building repayment of USPP notes
Fletcher Building announced its intention to make an early repayment of US$300m of USPP notes. CEO Mr. Ross Taylor said that the USPP notes, which were issued in 2012 and due to mature in 2022 and 2024, were the Company's expensive source of debt, with an average cost of funding of 5.4%. Repayment of the notes would reduce the Company's funding costs by NZ$17m per year, whilst still leaving the Company with liquidity of NZ$1.1bn. The USPP 2012 notes have a notional value of US$300m.
|This report appeared on www.morningstar.com.au||2021 Morningstar Australasia Pty Limited|
© Copyright 2021 Morningstar Australasia Pty Ltd ABN: 95 090 665 544 ("Morningstar"), AFSL no 240892. (a subsidiary of Morningstar, Inc.). This information is to be used for personal, non-commercial purposes only. No reproduction is permitted without the prior written content of Morningstar. Some of the material provided is published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO").