Fortescue Metals Group Limited (ASX:FMG) has announced that it has raised $US1.5 billion in notes.
The Pilbara focused iron ore miner’s offering was initially launched at $US1 billion but upsized given strong demand.
The senior unsecured notes have an offering rate of 8.5 per cent with an eight-year term and a non-call period of four years.
Fortescue plans to put the funding to expand existing infrastructure as it targets boosting production to 155 million tonnes per annum in 2013.
In the 2011 financial year Fortescue Metals Group recorded a net profit of $952 million.
