Fortescue begins US$750m bond buyback as costs decline
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Sydney
FORTESCUE Metals Group Ltd, Australia's third-largest iron-ore supplier, is offering to repurchase US$750 million in debt as it looks to reduce costs.
The offer to buy back bonds due in November 2019 and April 2022 will be held as a modified Dutch auction cash tender offer, the Perth-based producer said on Tuesday.
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