You are using an older browser version. Please use a supported version for the best MSN experience.

Fortescue to pay down debt by $925m

AAP logoAAP 12/09/2016

Iron ore exporter Fortescue Metals says it will repay $US700 million ($A925 million) of its debt, generating annual interest savings of about $US26 million.

Chief financial officer Stephen Pearce said the $US700 million repayment adds to the $US2.9 billion the company repaid in fiscal 2016 and further reduces the company's cost base.

"We will continue to apply our free cash flow to repay debt, lowering our gearing and strengthening our balance sheet," Mr Pearce said in a statement on Tuesday.

image beaconimage beaconimage beacon