I assume the $140m will save $12.6m in interest per annum.
Add to this debt reduction of $500m once FIRM approval is received which should save another $70m based on average interest of 6.88%
That equates to a $640m debt reduction. Based on guidance they are serious about debt reduction.
I believe in 2013/2014 debt will be reduced by at least $1.5b (including above) if not more.
The market should be pleased with this
Interest savings on today's announcement and Formosa will save circa $80m a year which will flow straight to the bottom line
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Last
$16.33 |
Change
0.070(0.43%) |
Mkt cap ! $50.27B | |||
| Open | High | Low | Value | Volume |
| $16.28 | $16.37 | $16.20 | $91.44M | 5.627M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 100 | $16.32 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $16.33 | 450 | 1 |
View Market Depth
| Last trade - 16.13pm 04/07/2025 (20 minute delay) ? |
| FMG (ASX) Chart |