Balfour Beatty has announced that it has paid off nearly half its debt in a year.
The company released a statement to the City this morning revealing that it had paid down a £252.7m convertible bond.
The move means that the contractor has now cleared 45% of its gross debt over the last 12 months.
The news came just days after Kier revealed plans for a £264m rights issue in a bid to pay down more of its debt.
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