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Fortescue raisess senior note offering limit

Iron-ore miner Fortescue Metals has increased its senior note offering from $1-billion to $1.5-billion, after significant investor demand.

The company earlier this week announced the note offering, the proceeds of which will be used to repay existing debt, including refinancing the outstanding $976-million 2019 senior secured credit facility and $478-million 2022 senior unsecured notes, extending the nearest term debt maturity date to 2022.