Balfour Beatty uses cash to shed debt load

By Will Ing2018-12-04T14:56:00

Contractor pays off £253m convertible bond

Balfour Beatty has paid down 45% of its gross debt in the last 12 months after using cash reserves to repay off a £253m convertible bond.

The country’s largest contractor has seen its debt shrink from £640m to £350m while other large contractors begin to creak under their debt load.

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