Emeco deleverages with equity raising

EMECO shareholders will be hoping for better times ahead after their board unveiled a A$149 million equity raising and associated debt restructuring transaction that will deleverage the company’s balance sheet.

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Emeco has moved to hose down any debt concerns with equity raising

The $149 million raising sees new shares issued at a price of 85c each, with the new funds going towards reducing Emeco's secured notes from $442 million to $250 million.