April 16, 2018 / 8:39 PM / 8 months ago

BRIEF-Fletcher Building To Raise NZ$750M Via Entitlement Offer At NZ$4.80 Per Share

April 17 (Reuters) - Fletcher Building Ltd:

* TO RAISE NZ$750M THROUGH A FULLY UNDERWRITTEN PRO RATA 1 FOR 4.46 ACCELERATED ENTITLEMENT AT NZ$4.80 PER SHARE

* NEW STANDBY BANKING FACILITY OF NZ$500M ESTABLISHED WITH ANZ, MUFG BANK AND WESTPAC

* PROCEEDS FROM OFFER AND STANDBY FACILITY ARE SUFFICIENT TO REDEEM ALL USPP NOTES AND PAY ASSOCIATED COSTS IF REQUIRED

* NO CHANGE TO ESTIMATED FY18 EBIT FOR GROUP (EXCLUDING B+I AND SIGNIFICANT ITEMS) OF NZ$680M-NZ$720M

* NO CHANGE TO ESTIMATED FY18 ESTIMATED LOSS FOR B+I OF NZ$660 MILLION

* DIVESTMENT PROCESSES TO BE UNDERTAKEN FOR FORMICA AND ROOF TILE GROUP BUSINESSES Source text for Eikon: Further company coverage:

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