Fortescue repays $US 700m debt

1407
Image credit: Fortescue Metals Group Limited

Fortescue has announced the issue of a US&700 million repayment notice for the 2019 Senior Secured Credit Facility.

Image credit: fmgl.com.au
Image credit: fmgl.com.au

The company’s Chief Financial Officer, Stephen Pearce said the US$700 million Term Loan repayment will be made at par on Friday 16 September, generating annual interest savings of approximately US$26 million.

“This US$700 million repayment adds to the US$2.9 billion which we repaid in FY16 and further reduces our all-in cost base,” Mr Pearce noted.

“We will continue to apply our free cash flow to repay debt, lowering our gearing and strengthening our balance sheet.”

Adertisement