Ailing Fletcher Building is adamant its banking syndicate and US-based private noteholders owed a combined NZ$2.4 billion ($2.27 billion) aren’t being given any special insights into the future plans of the company, ahead of normal shareholders.
Some of the US-based private noteholders are battle-scarred in the construction sector and demanded extra due diligence before signing off on a temporary two-month waiver after a breach of financial covenants because they face big losses elsewhere following the collapse of the United Kingdom’s second largest construction firm.
Carillion, which employed more than 43,000 people in the UK on a broad range of construction projects, went bust in January and PwC is part-way through a liquid…
Read the full article at: http://www.afr.com/business/banking-and-finance/fletcher-building-debt-holders-not-getting-extra-info-after-uk-carillon-collapse-20180403-h0yar0