PERTH (miningweekly.com) – Iron-ore miner Fortescue on Tuesday launched a $2.5-billion senior secured note offering to fund the repayment of its 2017, 2018 and a portion of its 2019 senior unsecured notes.
The miner told shareholders that the new senior secured note offering would extend the company’s debt maturity profile.
To ensure alignment of all aspects of the refinancing process, Fortescue had also elected to extend the early participation date of the 2017, 2018 and 2019 senior unsecured notes to tender their notes for repurchase, subject to a cap on the 2019 notes, to March 18.
The company had also extended the due date for participation in the amendment and extension process of the existing senior secured credit facility to March 17.