16
Dec
11:23
FMG pays down another $1 billion debt
Australia’s FMG has issued a repayment notice for another $1 billion of its 2019 senior secured credit facility. The company surprised many analysts by cutting costs so rapidly that it managed to earn enough cash to pay down debts well ahead of schedule despite falling iron ore price, Kallanish notes.
Once completed, the repayment will leave FMG with just $1.98 billion in 2019 debt unpaid, and a further $2.64 billion due from 2022 onwards. It will also bri…
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Anonymous
Very good overview of the weekly steel market.
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