Fortescue Metals Group’s bond offerings

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Fortescue Metals Group’s (FMG) US$2.04 billion senior unsecured note offering and the follow-on US$1.5 billion offering, was the first large scale unsecured high yield offering by an Australian corporate issuer and one of the biggest bond offerings in 2010.

The ability to raise capital allowed FMG to pursue its strategy and expansion plan.

FMG was one of the first Australian corporates to tap into the newly resurgent high yield and institutional markets in North America.

Corrs advised the joint lead managers and US counsel, providing detailed due diligence, advising on the transaction documents and the offering memorandum.