Not entirely sure any big funds would be ignoring FMG just because of its debt. Open to evidence.
Haven't seen a single instance of an insto or fund manager being shown to have a prohibition on buying FMG yet. Just speculation.
The bond market for their debt is open and the notes are trading above par. Nearly 115 cents in the dollar today for the 9.75% 2022 senior secured, and around 105 cents for the unsecured 6.875% stuff.
They can't repay the 2022 stuff until some time next year. But the interest rates on that stuff is high. Maybe accumulating cash and hitting that high interest rate stuff in March or April next year whilst at the same time renogiating their lower rate stuff with another vendor like the chinese would give them better bang for their buck.
Ann: Debt reduction to continue as FMG recognised as lowest cost, page-9
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Last
$21.59 |
Change
-0.270(1.24%) |
Mkt cap ! $66.47B | |||
| Open | High | Low | Value | Volume |
| $21.71 | $21.80 | $21.51 | $95.00M | 4.393M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 7115 | $21.56 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.59 | 4291 | 2 |
View Market Depth
| Last trade - 16.10pm 10/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |