FMG puts $US1B loan on backburner

A MONTH after embarking on a $US1 billion ($A946 million) unsecured term loan facility, Australia’s third-largest iron ore miner Fortescue Metals Group has postponed the plan.

FMG puts $US1B loan on backburner FMG puts $US1B loan on backburner FMG puts $US1B loan on backburner FMG puts $US1B loan on backburner FMG puts $US1B loan on backburner

Citing credit market weakness, FMG said in a statement offers received did not meet its own terms and conditions, despite "significant investor interest"

FMG has been on a road show in Asia in recent