Fortescue gives Kumba a good whipping

Friday 29 January 2016

Domainfax says Fortescue has a fighting chance:

United States debt markets are giving companies a “major opportunity” to cheaply reduce their gearing, according to Fortescue Metals Group chief executive Nev Power.

With Fortescue notes trading at discounts of up to 46 per cent on US debt markets, the company could save hundreds of millions of dollars when it moves to repay more of its debt in coming months.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.