09
May
12:01
FMG adds debt for a change
Australian iron ore miner FMG has launched a $1 billion bond offering of senior unsecured notes. The company plans to use the money raised to pay down existing debt however, meaning its debt profile is likely to be pushed back while net debt would remain roughly unchanged, Kallanish notes.
FMG currently has around $976 million left unpaid from its term loan due in calendar 2019. It paid down $1 billion of the term loan in March. That repayment resulted in an ann…
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Anonymous
Very good overview of the weekly steel market.
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