High interest rate on the bond but in exchange no financing pressure until 2019. The critics were loud about the high interest rate but the flexibility of the bond and the current large discount provides a great opportunity to clear debt cheaply. Available cash of US$2.3 billion can easily pay out the 2019 and 2022 unsecured bonds and a chunk of the 2019 secured credit facility. FMG has reduced net debt by US$1.1 billion in the last six months from operational cash flow. Name another company that has achieved that.
No asset sales and they continue to develop the company. They always have the option of selling part of Pilbara Infrastructure if needed.
Iron Ore Price, page-4213
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Last
$19.76 |
Change
-0.220(1.10%) |
Mkt cap ! $60.84B | |||
| Open | High | Low | Value | Volume |
| $19.66 | $19.80 | $19.20 | $191.1M | 9.763M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 4673 | $19.73 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.76 | 31740 | 2 |
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| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| FMG (ASX) Chart |