27
Apr
11:49
FMG to pay down another $577m of debt
Australian iron ore miner FMG says it has begun the process of paying down another $577 million of debt. The firm will hope paying down debts while it has cash in hand will counteract the rising strip ratios expected later this year, Kallanish notes.
FMG says it expects to save around $48m per year in interest payments as a result of the repayment. The 2019 notes will be redeemed on 1 June at principal value plus 4.125%, compared to their full term yield of 8.25…
This article contains premium data.
It is only available for active subscribers and clients currently
on trial. To continue reading, see the options below.
on trial. To continue reading, see the options below.
Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous