Fortescue Metals Group Limited
(ASX:FMG) has secured about $495 million in senior debt facilities that will assist its mining expansion program in the Pilbara.
The facilities were supported by European export credit agencies and Fortescue’s chief says, the facilities would extend the company’s debt maturity profile at attractive rates.
The iron ore miner is currently undertaking a ramp up to almost triple production to 155 million tonnes per annum by mid 2013.
In the first half of its 2012 financial year Fortescue Metals posted a net profit of $789 million.
