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

Published 24/03/2017, 08:46 am
© Reuters.  BRIEF-Fortescue Metals announces US$1 bln repayment of 2019 term loan
FMG
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March 24 (Reuters) - Fortescue Metals Group Ltd FMG.AX :

* 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 Source text for Eikon: ID:nASX24tmYc Further company coverage: FMG.AX

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