Fortescue Metals is rumoured to have pulled its $US2.5 billion secured bond issue, for which it was set to pay a rate of 8 per cent or above to lure investors.
A price range of 8 to 8.25 per cent was reported by IFR – above the “high 7 per cent area” range Fortescue’s bankers – JPMorgan and Credit Suisse – were targeting when the deal launched.
Should have taken it.