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| Leighton Launches US$110 Million Debt Issue Leighton Holdings Limited, the parent company of Australia's largest project development and contracting group, announced the launch of a new US$110 million debt issue of 5-Year Fixed-Rate Guaranteed Notes to support operations in Indonesia. The Notes will be issued by a special purpose vehicle, Leighton Finance International Limited, a wholly-owned subsidiary of Leighton Holdings Limited. Leighton Group subsidiaries, PT Thiess Contractors Indonesia and PT Leighton Contractors Indonesia, will jointly and severally guarantee the obligations of the issuer and Noteholders will have no recourse to other Group companies. “Our operations in Indonesia have grown rapidly in recent years and as of 28 February the group had some US$1.5 billion worth of work in hand in Indonesia. By raising debt, under which recourse is limited to the Indonesian businesses, the Leighton Group can effectively reduce the risks associated with its exposure to Indonesia and create further opportunities for expansion in that country, ” said Wal King, chief executive officer of Leighton Holdings Limited. write your comments about the article :: © 2006 Construction News :: home page |