1987 – Year of the shrinking market?
US dollars will be the main target in 1987 for Industrial Equity Limited (IEL), a fast-growing diversified holding operation, now the fourth largest company in Australia.
The favoured source of the funds will be the Euromarkets, where IEL has been only once before, in April 1985, for a US$155 million Euronote issue. But IEL is also considering tapping the US domestic markets.
“Our requirement is for US dollars or sterling. We anticipate one or two issues of US$100 million a throw,’ said Robert Birrell, acting treasurer.
Mandates are still up in the air.
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