PERTH (miningweekly.com) – Iron-ore miner Fortescue Metals has issued a voluntary redemption notice of $160-million for the remaining balance of the 9.75% senior secured notes due in 2022.
CFO Ian Wells said on Friday that the repayment of the high cost notes left all of Fortescue’s remaining debt structured on investment grade terms and conditions, providing a low cost, flexible capital structure to support the company’s ongoing operations and future growth.
The balance of the senior secured notes will be repaid from operating cash flows on June 28.