1987 – Year of the shrinking market?
After doubling borrowings in the 1985/86 financial year to pay for investments worth A$3.1 billion, the Broken Hill Proprietary Co, Australia’s largest corporation, plans a quieter year in the capital markets in 1987.
“We don’t necessarily need funds at the moment, but, as with most corporates, we will be looking to restructure our portfolio,’ said BHP corporate treasurer Graeme McGregor.
BHP has felt inhibited in the Euromarkets by being subject to takeover bids and by what it sees as a generally jaundiced view of Australian issuers.
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