Fortescue Metals Group (FMG) has secured a credit facility of up to US$4.5 billion, which will be used to refinance all existing bank facilities and provide FMG with additional liquidity. The facility, provided by Credit Suisse and JP Morgan, extends the earliest repayment date for any of the company’s debt to November 2015 and removes financial maintenance covenants which applied under previous facilities. On September 14, the securities of FMG were placed in a Trading Halt Session State pending this announcement.

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