March 24 (Reuters) - Fortescue Metals Group Ltd (FMG) :
- Fortescue announces US$1 bln repayment of 2019 term loan
- Issued a US$1.0 billion repayment notice for 2019 senior secured credit facility
- "This US$1.0 billion payment continues our debt reduction strategy lowering our all in cost position and reducing 2019 debt to less than US$1.0 billion."
- "Will continue to prioritise free cash flow for debt reduction"
- Following this repayment, outstanding balance of 2019 term loan will be reduced to US$976 million
- Term loan repayment will generate annual interest savings of approximately US$38 million
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