FCL in Canada files for issue
From
JOHN MULLINDER
in Ontario Fletcher Challenge Finance Canada Incorporated, a unit of Fletcher Challenge, Ltd, of New Zealand, has filed a final prospectus with Canadian Securities Commissions for an issue of 7.87 per cent cumulative redeemable preferred shares, series B. The issue will raise sCanl7s million (about SNZ24OM) for Fletcher Challenge. The underwriter is Wood Gundy Incorporated. Under a support agreement the New Zealand parent company has agreed to ensure that the issue has sufficient available cash to enable it to make all payments of dividends, refractions, redemptions and distributions in respect of the series B shares. Fletcher Challenge has issued $Can262.5 million in security to back the issue.
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Bibliographic details
Press, 24 February 1987, Page 23
Word Count
116FCL in Canada files for issue Press, 24 February 1987, Page 23
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