Fortescue Metal
Australia's third largest iron ore producer, Fortescue Metals (ASX:FMG) have had their lender, Bank of America, extend the syndication deadline of the $1.5 billion loan until the end of the month.
- The loan facility was underwritten by Bank of America Merrill Lynch
- The loan facility matures in December 2013. Loan is split equally into a term part and a revolving credit portion.
Fortescue Metal (FMG) is the best performing company on the ASX200 index this week (Winner of the week of week 10 of 2007). This mining company closed the week at $20.20, $2.55 higher or 14.45 percent. The All Ordinaries closed the week at 5817.8 while the ASX200 index closed at 5836.3.
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