Senate Passes Bipartisan Budget Deal Rolling Back $63 Billion in Cuts
Fletcher Building Makes 15-Year Note Placement in Japan
Fletcher Building Ltd., New Zealand’s largest construction company, raised 10 billion yen ($125 million) from a private placement of 15-year notes with Japanese institutions
The proceeds of the placement have been swapped to floating Australian dollars and will be used to repay existing borrowings, the Auckland-based company said in a statement.
The issue diversifies the company’s debt-funding sources with a new currency and extends the duration of the debt portfolio, Chief Financial Officer Bill Roest said in the statement. Morgan Stanley advised on transaction.
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