1987 – Year of the shrinking market?
CSR, the diversified sugar, energy and resources group and one of the more active Australian issuers in international markets in recent years, plans to have a quieter time in 1987.
“We expect borrowings to be reduced on a net basis,’ said treasurer Geoge Devrell.
Having raised A$200 million from a share placement and a one-for-ten rights issue, Devrell is not expecting much movement on the equity front either. CSR will net a further A$90 million in the next two to five years from shareholders’ options which formed part of the rights issue package.
“That gives us good liquidity in the current year.
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