FMG 2.15% $18.49 fortescue ltd

Iron Ore Price, page-13826

  1. 1,848 Posts.
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    Haven't checked whole scenario but 2019 debt, the secured secured credit facility (which is not a note, it is a term b loan, and I believe does not trade on an open market like the other notes, which do trade on the berlin bourse for instance, so we can see their discount or premium to par pretty much anytime) is NOT a flat rate. Its LIBOR plus a range of rates (around 2.75 to 3.75 - its in the annual report, where the rate depends on debt levels), but with the caveat that the libor must be at least 1% additional to the range of rates. I'd guess (its checkable, you can get libor by googling anytime) libor is probably around 1.3 and rate probably around 3.5 so 2019 debt interest rate will be above 3.7 but below 5%.
    Last edited by bpinvestnstocks: 07/12/16
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