Border to restructure balance sheet

BORDER Timbers will soon restructure its balance sheet after the group signed a long-term loan agreement for US$7 million from European firm DEG Finance, chairman Heinrich von Pezold said.

Report by Staff Writer

He told shareholders at an annual general meeting in the capital this week that the long-term facility should put the balance sheet on a sound footing.  Border’s borrowings were US$19 million in the year to June.

Von Pezold said the group would begin to draw down from the facility at the end of the month.