Fortescue calls $1.51 billion senior notes due 2011, 2013 and 2016

By Melissa Kory

Cleveland, Nov. 8 - Fortescue Metals Group Finance Pty. Ltd. announced it will redeem all $1,510,988,000 of its outstanding senior secured notes due 2011, 2013 and 2016 on Nov. 8.

To be redeemed are the following notes:

• The remaining $231.11 million of its $250 million senior floating-rate notes due Sept. 1, 2011 at 102.9508%, plus accrued interest;

• The remaining $301.658 million of its $320 million 10% senior notes due Sept. 1, 2013 at 125.1726%, plus accrued interest; and

• The remaining $978.22 million of its $1.08 billion 10 5/8% senior notes due Sept. 1, 2016 at 147.6739%, plus accrued interest.

Bank of New York Mellon is the redemption agent.

Fortescue Metals mines for iron ore and is based in East Perth, Australia.

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