Create a free account with Business Times for seamless access across SPH Media products.

Companies & Markets

Banking & Finance
Reits & Property
Energy & Commodities
Telcos, Media & Tech
Transport & Logistics
Consumer & Healthcare
Capital Markets & Currencies

SUBSCRIBERS

Fortescue begins US$750m bond buyback as costs decline

Published Wed, Nov 11, 2015 · 09:50 PM

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.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes