$ 2.5BN

Finweek English Edition - - IN BRIEF -

Australia’s Fortes­cue Met­als Group, the world’s third largest ex­porter of iron ore, pulled a pro­posed $2.5bn (R31bn) bond and re­fi­nanc­ing of debt on 18 March as iron ore prices fell to a new six-year low of $57.60 (R713) a ton, lead­ing in­vestors to de­mand bet­ter terms. The price of iron ore, a key in­gre­di­ent in steel, is down 70% since its 2011 peak of $190 (R2 352) a ton.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.