Fortescue Metals Group’s bond offerings

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Fortescue Metals Group’s US$2.04 billion senior unsecured note offering under Rule 144A and the follow on US$1.5 billion offering, was the first unsecured high yield offering by an Australian corporate issuer post GFC and one of the biggest bond offerings by an Australian issuer in 2010.

The ability to raise this debt capital and the flexibility it provides has been critical to Fortescue’s ability to pursue its extensive Pilbara expansion plan.

Corrs advised J.P. Morgan and The Royal Bank of Scotland as joint lead managers in relation to due diligence, transaction documentation and the offering memorandum.