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Fortescue's Debt War Chest Swells to $1.5 Billion

  • Iron ore producer's options include buybacks, refinancing: CFO
  • Lowering interest charges is key to efforts to lower costs
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Fortescue Metals Group Ltd. said it is weighing options from refinancing to fresh bond buybacks as its war chest for reducing debt swells to $1.5 billion and iron ore rallies.

The world’s fourth-largest supplier of the steelmaking material is committed to cutting its $5.9 billion net debt pile and sees a wider range of possibilities as sentiment improves across commodities markets, Chief Financial Officer Stephen Pearce said in an interview.