Fortescue Metals announces US$1 bln repayment of 2019 term loan

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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