Fortescue Executes $881 Million Bond Offer To Repay Debt

Fortescue Metals Group has completed a $US600 million ($881 million) bond offering that will be used to partially repay its $US1.4 billion 2022 loan facility.

The bond will be received at an interest rate of 4.5 per cent, which is set to mature in September 2027.

In addition, Fortescue is negotiating with existing lenders for the extension of term loan maturities of $US600 million to 2025.

The balance of the term loan of $US200 million will be repaid from operation cash.