Fortescue to repay up to $907m in debt
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The news: Iron ore mining giant Fortescue has launched tender offers to pay off USD600 million ($907 million) worth of outstanding debt notes it has issued.
The numbers: The tender offer is targeting Fortescue Treasury issued 5.875% senior notes due 2030, 4.375% senior notes due 2031 and 6.125% senior notes due 2032.
A cap of USD400 million has been set for the purchase of 2031 notes while a cap of USD50 million has been set on the 2032 notes.
There is an aggregate outstanding principal amount of USD1.5 billion for the 2031 notes, USD700 million for the 2030 notes and USD800 million for the 2032 notes.
The context: Priority acceptance will be granted to 2031 notes followed by the 2030 notes and the 2032 notes. The offer will expire on 4 November 2025 at 5:00pm New York City time.
The source: ASX
