Ann: Fortescue announces multi-billion dollar refinancing, page-61

Totally agree

I have sourced various articles regarding the refinancing and most are very positive

They still have the prion of asset sales, sale of their share in joint venture investments etc..

Extending repayment dates gives them a lot of head room should IO price not marginally recover. If it does better still.

Interest savings are also a bonus.

One article pointed out that last week was highlighting the availability of cheap funding at present and that there were mining assets that could be purchased at low prices, the article inferred that his comments were related to today's announcement and that FMG post refinancing would take the opportunity for a change of strategy.

Could they be looking to acquire non iron ore assets to diversify, the market may warm to this strategy, the time is right, and they are not increasing debt and still hold $1.6b in cash

They could spend $500.0m and pick up non IO assets, could be that Twiggy is planning something

Management so far has ticked all the right boxes, diversification if profitable on a small scale to begin with would be a good move on the long term