FMG boosts kitty for 155Mtpa expansion

FORTESCUE Metals Group’s expansion to 155 million tonnes per annum by 2013 has received a significant boost after Australia’s third largest iron ore miner today announced it had raised $US1.5 billion ($A1.4 billion) of high-yield bonds on the back of strong support.

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The offering of senior unsecured notes was initially launched at $US1 billion and upsized to $1.5 billion on the back of strong demand. The notes are expected to settle this Friday.

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