BRIEF-James Hardie Industries Announces Debt Reduction

BY Reuters | CORPORATE | 01/15/21 03:24 AM EST

Jan 15 (Reuters) - James Hardie Industries PLC (JHX):

* JAMES HARDIE INDUSTRIES ANNOUNCES DEBT REDUCTION

* TO REDUCE GROSS DEBT BY US$400 MILLION BY END OF FY2021

* VOLUNTARY REDEMPTION OF ITS 4.75% SENIOR UNSECURED NOTES DUE 2025 WITH PAYMENT OF US$410 MILLION IN PRINCIPAL & CALL PREMIUM

* FOLLOWING REPAYMENT, CO HAS LIQUIDITY OF OVER US$600 MILLION Source text for Eikon: Further company coverage:

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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