fortescue takes first step in debt reduction

  1. 30 Posts.
    “The redemption of the 9% Preference shares removes Fortescue’s most expensive
    piece of debt and represents the first step in the Company’s strategy to reduce gearing
    levels,” Mr Pearce said. “Fortescue’s strong financial position, together with the sharp
    reduction in capital expenditure as we near the completion of our US$9.0 billion
    expansion to 155 million tonnes per annum, has enabled the Company to begin debt
    repayments this year.
 
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