https://www.miningweekly.com

Fortescue raises $1bn to repay debt

9th May 2017

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Iron-ore miner Fortescue Metals is hoping to raise $1-billion through a bond offering of senior unsecured notes.

The company said on Tuesday that proceeds from this issue would be used to repay existing debt.

The miner in March this year announced a $1-billion repayment of its 2019 term loan, reducing its 2019 debt to less than $1-billion and generating savings of about $38-million a year.

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Edited by Creamer Media Reporter

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