trending Market Intelligence /marketintelligence/en/news-insights/trending/rp8g8e9ofwjhv4v7riq1ug2 content esgSubNav
In This List

Fortescue launches US$500M notes offering

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


Fortescue launches US$500M notes offering

Fortescue Metals Group Ltd. launched and priced an offering of US$500 million of 5.125% senior unsecured notes due 2023.

The notes will have a five-year noncall term. The offering is expected to be settled by March 15.

The company will use the proceeds from the offering, along with the recently secured US$1.40 billion term loan facility, to redeem the 9.75% of US$2.16 billion senior secured notes due 2020. The balance will be redeemed from cash.

The refinancing and debt repayment will lower Fortescue's annual borrowing costs by approximately US$130 million.