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Media Release
Fortescue Bond Offering In Response to
Strong Capital Market Interest
Perth, 22 April 2015: Fortescue has commenced a Secured Note offering in the United States, capitalising on strong interest from debt capital markets and its solid fourth quarter production report.
Fortescue tonight (Australian time) launched an offering of US$1.5 billion
Secured Notes with the proceeds to be used to redeem its 2017 and 2018
Unsecured Notes.
Fortescue Chief Executive Officer Nev Power said: "The principal objective of this refinancing is to extend Fortescue's debt maturity profile well in advance of due dates".
Fortescue's current debt maturity profile is shown below, noting the earliest maturities, in 2017 and 2018, will be redeemed as part of this transaction.
Fortescue has a high level of flexibility and no maintenance covenants in its debt capital structure.
Fortescue's most recent quarterly report was released on 31 March 2015 and is
available at http://www.fmgl.com.au/Investors_and_Media/ASX_Announcements.
A further update on the refinancing will be provided upon completion.
Media Contact:
Luke Forrestal
Mobile: +61 411 479 144 or +61 427 938 094
Email: [email protected]
Fortescue Metals Group Limited ABN 57 002 594 872 ACN 002 594 872
ADDRESS Level 2, 87 Adelaide Terrace, East Perth, Western Australia 6004
TEL +61 8 6218 8888 FAX +61 8 6218 8880 EMAIL [email protected]
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Fortescue Metals Group
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DEVELOPMENT STAGE |
CODE : FMG.AX |
ISIN : AU000000FMG4 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Fortescue Metals is a iron development stage company based in Australia. Fortescue Metals holds various exploration projects in Australia. Its main assets in development are CHRISTMAS CREEK and NULLAGINE IRON in Australia and its main exploration property is SOLOMON GROUP in Australia. Fortescue Metals is listed in Australia and in Germany. Its market capitalisation is AU$ 55.1 billions as of today (US$ 37.5 billions, € 33.6 billions). Its stock quote reached its lowest recent point on January 29, 2016 at AU$ 1.41, and its highest recent level on September 20, 2024 at AU$ 17.69. Fortescue Metals has 3 113 799 936 shares outstanding. |