Adelaide Brighton (ASX:ABC) increases borrowing limits to $900m

Building construction firm Adelaide Brighton  (ASX:ABC) has extended the maturity of its debt and increased its committed borrowing limits from A$715 million to A$900 million.

The Company has also added additional financiers to its existing group of relationships to diversify its funding base.

These facilities provide financial flexibility and headroom to execute on the Company’s strategic initiatives and to act on opportunities as they arise.

Last month the ACCC anounced an investigation into whether Adelaide Brighton’s biggest shareholder Barro Group’s 43 per cent stake is having an impact on competition between the firms in the marketplace

Shares in Adelaide Brighton (ASX:ABC) closed 0.93 per cent lower at $3.20 yesterday.
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Source: Finance News Network