PROJECT FINANCE

FMG loan note re-valued at $A1.8bn

IRON ore play Fortescue Metals Group has posted a half-year net loss of almost $A1 billion after a $US100 million unsecured 13-year loan note issued by US investment group Leucadia National was re-valued at $A1.8 billion at the end of last year.

MiningNews.Net
FMG loan note re-valued at $A1.8bn

In its half-year results, FMG said the revaluation of the loan note reflected an increase in annual production volumes from its Cloudbreak and Christmas Creek deposits from the original valuation of 45...

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