On December 7, Australian iron ore producer Fortescue Metals Group Ltd announced that it has launched a bond offering for US$800 million of senior unsecured notes in relation to the expansion funding of its two ports, three hubs strategy.
The company anticipates a brief road show, with pricing in the coming days.
Fortescue said that it would need to raise an additional $US4 billion of debt to fund its iron ore mine and infrastructure expansions in Western Australia's Pilbara region to bring capacity to 155 million metric tons per annum by June 2014.