Fortescue Metals Group
(ASX:FMG) will issue another US$500 million to repay its 2019 Senior Secured Term Loan.
At today’s exchange rate, this is around AU$665 million, and this amount will be made at par from accumulated cash next Tuesday (28 June 2016).
The company says this repayment will generate interest savings of US$21 million per annum.
The company also says this repayment brings its total 2016 FY repayments to US$2.9 billion , and reduces its annual interest expenses by US$186 million.
Fortescue Metals reported a net profit of AU$436.63 million at 31 December 2015.
