Fortescue to pay early

Fortescue Metals Group is set to come good on its vow to pay down debt sooner rather than later, after promising to begin repayments in November. It has about $US12 billion worth of gross debt to settle over the next nine years. Chief executive Nev Power said Fortescue would repay about $140 million worth of preference shares on November 11.

Fortescue Metals Group is set to come good on its vow to pay down debt sooner rather than later, after promising to begin repayments in November. It has about $US12 billion worth of gross debt to settle over the next nine years. Chief executive Nev Power said Fortescue would repay about $140 million worth of preference shares on November 11.

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