Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Fletcher Building capital notes rollover at 5.4% from 8.9%

Fletcher Building capital notes rollover at 5.4 percent from 8.9 percent

Jan 29 (BusinessDesk) - The impact of low global interest rates on corporate funding needs is well demonstrated in the announcement by Fletcher Building of the rollover terms on $75 million of capital notes that mature on March 15.

The long-dated corporate bonds are currently paying 8.9 percent annually, but the rate on offer at rollover until March 15, 2019 is 3.5 percentage points lower, at 5.4 percent a year.

Noteholders can retain some or all of their notes on the new terms or have them paid out. Fletcher Building is exercising the option to pay cash rather than convert the notes to ordinary shares in the company.

Noteholders have until February 26 to make their election.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Land & Water Forum: Fourth Report On Water Management

The Land and Water Forum (LWF) today published its fourth report, outlining 60 new consensus recommendations for how New Zealand should improve its management of fresh water and calling on the Government to urgently adopt all of its recommendations from earlier reports. More>>



Welcome Home: Record High Migration Stokes 41-Year High Population Growth

New Zealand annual net migration hit a new high in October as more people arrived from than departed for Australia for the first time in more than 20 years. More>>


Citizens' Advice Bureau: Report Shows Desperate Housing Situation Throughout NZ

CAB's in-depth analysis of over 2000 client enquiries about emergency accommodation shows vulnerable families, pregnant women and children living in cars and garages, even after seeking assistance from the Ministry of Social Development and Housing New Zealand. More>>


Speaking For The Bees: Greens Call For Neonicotinoid Pesticide Ban

The National Government should ban the use of controversial pesticides called neonicotinoids after evidence has revealed that even at low doses they cause harm to bee populations, the Green Party said today. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news