Markets Live: Miners pull shares down
Australian stocks are trading lower, pulled down by the big miners and energy stocks. Second Billabong bidder pulls out Executive departs CVC in Nine battle CBA warns on cautious consumers Dollar...
View ArticleFortescue Buys Time With New Debt Facility
By ROBB M. STEWART MELBOURNE, Australia—Fortescue Metals Group Ltd. has bought itself more time to ride out slumping iron-ore prices, securing up to 4.5 billion U.S. dollars in debt to refinance its...
View ArticleAustralia's Fortescue shores up funding with $4.5 bln debt deal
MELBOURNE, Sept 18 (Reuters) - Fortescue Metals Group , the world's No.4 iron ore miner, has lined up $4.5 billion in debt and said several firms had expressed interest in partnering in some of its...
View ArticleAustralia's Fortescue to tackle $10 bln debt headache
* Fortescue faces Tuesday deadline for debt restructure * Asset sales, covenant relief seen mostly likely * Shares on trading halt, having halved since March SYDNEY, Sept 18 (Reuters) - Fortescue...
View ArticleFortescue cuts $715m loan deal with Leucadia
Fortescue Metals has reached a $US715 million ($A681 million) deal with US investment firm Leucadia National Corp to repay a loan, the...
View ArticleAustralia's Fortescue to tackle $10 billion debt headache
SYDNEY (Reuters) - Fortescue Metals Group <FMG.AX>, the world's No.4 iron ore miner, faces a self-imposed deadline of Tuesday to detail a restructuring of at least part of its $10 billion debt...
View ArticleFMG repays $715m to Leucadia to cut interest payments
FORTESCUE Metals Group has agreed to repay $US715 million ($683.3 million) to US investment fund Leucadia National Corp, in a move that reduces the Perth-based miners interest bill on its huge debt...
View ArticleFortescue ends Leucadia's sweetest deal
With extra cash in the tin after Tuesday’s whopper refinancing, Fortescue Metals Group has bought Leucadia out of the deal of a lifetime, which reaped the firm at least $1.2 billion in profits over...
View ArticleFortescue agrees terms on $715m loan
Fortescue Metals has reached a $US715 million ($A681 million) deal with US investment firm Leucadia National Corp to repay a loan, the latest move by the world's No.4 iron ore producer to restructure...
View ArticleUPDATE 1-Australia's Fortescue reaches $715 mln debt deal with Leucadia
* Fortescue valued $100 mln subordinated note at $897 mln * Ends Leucadia action against Fortescue and founder Forrest * Latest move to restructure $11.7 bln debt pile * Shares little moved having...
View ArticleFortescue repays Leucadia debt, commissions train unloader
PERTH (miningweekly.com) – Iron-ore major Fortescue Metals has repaid its debt to New York-based Leucadia National Corporation following its $4.5-billion refinancing deal earlier this week. Fortescue...
View ArticleAustralia's Fortescue said to seek debt relief, shares tumble
SYDNEY (Reuters) - Iron ore miner Fortescue Metals Group Ltd (FMG.AX) has asked lenders to waive debt covenants for the next year, media reported, highlighting growing strains in Australia's resource...
View ArticleAustralia's Fortescue to restructure debt
Australia's Fortescue Metals Group Ltd, the world's No. 4 iron ore miner, is under pressure to announce asset sales as it seeks to cut its $11 billion debt load to allay mounting liquidity concerns...
View ArticleAustralia's Fortescue seeks debt relief, shares tumble
SYDNEY (Reuters) - The world's no.4 iron ore miner Fortescue Metals Group Ltd <FMG.AX> has asked lenders to waive debt covenants if iron ore prices remain under pressure, the firm said on...
View ArticleFortescue reaches $715mn debt deal with Leucadia
Hammered by a slump in iron ore prices, Fortescue earlier this week lined up $4.5 billion to restructure part of its debt and said it was in...
View ArticleFortescue ends Leucadia deal
THE rally behind Fortescue Metals Group stalled yesterday, despite positive news the company had paid $US715 million to redeem its expensive ''Leucadia Note''. Goldman Sachs analysts noted last night...
View Article"Twiggy's" grand bet on Australian iron ore turns sour
* Fortescue Metals borrowed big to ride China steel boom * Plunge in iron ore price coincided with peak debt and mine expansion * Announcement on debt restructure due by Tuesday * Founder Forrest...
View ArticleFortescue shares sink as power plant sold
Fortescue Metals Group has sold the power station at its Solomon mine in Western Australia's Pilbara region for $US300 million ($A2942 million). The iron ore miner, controlled by billionaire Andrew...
View ArticleAustralia's Fortescue on trading halt, to restructure debt
SYDNEY (Reuters) - Australia's Fortescue Metals Group Ltd , the world's no.4 iron ore miner, said it planned to announce a restructuring of its hefty debt load next week, seeking to allay mounting...
View ArticleAustralia's Fortescue shores up funding with $4.5 billion debt deal
MELBOURNE (Reuters) - Fortescue Metals Group , the world's No.4 iron ore miner, has lined up $4.5 billion in debt and said several firms had expressed interest in partnering in some of its assets, as...
View ArticleAustralia's Fortescue to restructure debt; shares on trading halt
MELBOURNE (Reuters) - Australia's Fortescue Metals Group Ltd , the world's No. 4 iron ore miner, is under pressure to announce asset sales as it seeks to cut its $11 billion debt load to allay...
View ArticleAustralian court says Fortescue founder didn't mislead investors
CANBERRA (Reuters) - Australian iron ore magnate Andrew Forrest and Fortescue Metals Group Ltd won a High Court appeal to overturn a conviction for misleading investors, allowing the billionaire to...
View ArticleAustralia's Fortescue reaches $715 mln debt deal with Leucadia
SYDNEY (Reuters) - Australia's Fortescue Metals Group has reached a $715 million deal with U.S. investment firm Leucadia National Corp to repay a loan, the latest move by the world's No.4 iron ore...
View ArticleFortescue shares tank as iron ore prices slide
Elizabeth Knight: When the bull goes bear the boom is done Shares of Fortescue Metals, the world's fourth-biggest iron-ore miner, have plunged, as investors react harshly to the latest drop in Chinese...
View ArticleFortescue circles the wagons
FORTESCUE Metals has had to reassure a range of international banks about its stretched financial position after plunging iron ore prices forced it to cut its expansion plans and sell assets to reduce...
View ArticleUPDATE 2-Fortescue talks to sell port, rail stake could unlock more iron ore
* Brookfield, Canadian pension funds seen as potential investors * Fortescue could raise as much as $5 billion for a 49 percent stake - analysts * Fortescue looks to pay down debt * Atlas, Flinders...
View ArticleTwiggy takes $330m hit as Fortescue tanks
Elizabeth Knight: When the bull goes bear the boom is done Shares of Fortescue Metals, the world's fourth-biggest iron-ore miner, have plunged, as investors react harshly to the latest drop in Chinese...
View ArticleFortescue Races Iron Ore Drop to Cut Debt Cost: Australia Credit
Fortescue Metals Group Ltd. (FMG) is racing both a forecast drop in iron ore prices and the tapering of U.S. stimulus as it seeks to reduce costs of the biggest debt load among junk-rated miners....
View ArticleFMG tackles debt pile
AAP Fortescue Metals has continued on its debt-busting ways as it lowered interest payments on $US5 billion ($A5.34 billion) to tackle what is viewed as its main weakness: $US12 billion in borrowings....
View ArticleFortescue debt joins junk exodus in iron ore rout
Fortescue Chairman Twiggy Forrest: Yields from notes issued by the iron ore producer are falling. Iron ore falls below $US80 per tonne Bonds of Andrew Forrest's Fortescue Metals Group are having their...
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