FMG replaces secured debt…with unsecured debt

02 March 2018

 

Fortescue Metals Group has announced a re-arrangement of its existing debt. The company has priced USD$500 million senior unsecured notes with a March 2023 call date. The proceeds will be used to partly finance the redemption of USD$2.16 billion senior secured 2022 bonds, which became callable on 1 March 2018. These bonds were issued in April 2015 and were themselves used to refinance existing FMF bonds outstanding at the time....

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