Fortescue Metals Group Limited
(ASX:FMG) has announced it has completed an agreement with the China Development Bank Financial Leasing Company.
The US$473 million facility will finance 8 large ore carriers currently under construction.
Fortescue has indicated the facility represents the largest direct funding arrangement provided by a major Chinese financier for a non-Chinese company in Australia.
The carriers are being constructed in Chinese shipyards with first delivery due November 2016.
Fortescue Metals Group Limited reported a net profit of $1.33 billion at 30 June 2016.
