Fletcher Building says its $150 million capital notes offer has closed, fully subscribed.
The offer, which will help pay for its recent purchase of Australian wood panels business Laminex Group, included $125 million worth of capital notes, plus oversubscriptions of $25 million.
"We are delighted with the success of the offer and
see this as a positive reflection of Fletcher Building's recent financial results and its acquisition of Laminex Group," chief executive Ralph Waters said.
The final setting of the interest rates will be done today.
The notes are expected to start trading on the Stock Exchange on Friday.
* Elders Finance $10 million subordinated unsecured notes issue has closed oversubscribed.
The issue offers 9 per cent annual interest for three years from October 24.
Elders, owned by Hanover Group, will use the notes to strengthen its balance sheet.
- NZPA
