Vocus Group rejects talk of equity raising

Company News

by Anna Napoli

Vocus Group (ASX:VOC) has responded to media speculation this morning regarding a potential equity raising saying it has no current plans to raise additional equity following the refinancing of its debt facility in June.

The announcement comes after The Australian newspaper reported the telecommunications company could be considering a move to tap the market to drive down its debt.

During the company's half0-year results Vocus reported its net debt peaked at $1.089 billion after funding the Australia Singapore Cable.

However, the Board and management says they remain comfortable with Vocus’ debt position and there is no current intention to raise additional equity.

Shares in Vocus Group (ASX:VOC) are trading 1.5 per cent lower at $3.58.
 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.