1987 – Year of the shrinking market?
A big borrower in the past, Gaz de France will offer lean pickings to banks and securities houses in 1987. GDF treasurer Jean Reboul said: “Assuming the price of oil remains stable at around $15 to 20 per barrel, and the dollar exchange rate is between Ffr7 and 10, we know that our financing needs in 1987 won’t be high.’
In the last two years the company has reduced costs by streamlining its management structure and by negotiating lower prices from its suppliers.
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