24
Mar
11:23
FMG cuts 2019 debt to under $1 billion
Australia’s FMG has announced it will repay another $1 billion of its 2019 term loan, the latest in a series of repayments which have returned the company to a firm financial footing. The repayment will leave only $976 million in debt due before 2022, Kallanish notes.
The company says the payment will save an estimated $38 million in annual interest payments. The company will still have $2.16 billion in secured notes and $478m in unsecured notes due starti…
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Anonymous
Very good overview of the weekly steel market.
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