04
May
21:15
Fortescue commits to debt reduction with early repayments
Fortescue Metals Group (FMG) has issued a $650 million repayment notice for its 2019 secured term loan, the Australian iron ore miner confirms in a statement sent to Kallanish.
This is in addition to the repayment of $557m senior secured notes initiated on 27 April, FMG adds. The $650m term loan repayment will be made at par from accumulated cash on 16 May 2016, generating interest savings of $28m per annum.
“We are committed to ongoing debt reduction a…
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