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Investment Opps

Boral Equity Raising

22
November
2016
News
Fixed Income, New Investment opportunity, Investment Opps, Equity

Boral has entered into a binding agreement to acquire Headwaters Incorporated for around $2.6 billion USD. Boral intends to raise A$2,058m in new equity to partially fund the acquisition.

The acquisition is to be funded by a fully underwritten a$450m Institutional Placement, and a fully underwritten A$1.6b 1 for 2.22 pro-rata accelerated renounceable entitlement offer, with retail entitlements trading. The balance will be funded by existing cash, and a fully underwritten debt bridge facility.

All new shares are expected to be priced at $4.80, which represents a 22% discount to the last close of $6.15 on the 18 November 2016.

Citigroup and Macquarie are financial advisers.

Citigroup, JP Morgan and Macquarie are joint lead managers, joint bookrunners, and joint underwriters.

For further information please see www.boral.com.au

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