...April 7, 2022 MELBOURNE (S&P Global Ratings) April 8, 2022--S&P Global Ratings today said it has assigned its '##+' issue rating and '4' recovery rating to FMG Resources (August 2006) Pty Ltd.'s proposed senior unsecured US$1.5 billion notes, split into US$700 million and US$800 million tranches of eight years and 10 years, respectively. The parent company and guarantor, Fortescue Metals Group Ltd. (Fortescue; ##+/Stable/--), plans to use the proceeds of the 10-year notes, designated "green notes," to fund the company's decarbonization ambitions, including projects related to renewable energy production and storage and clean transportation. Proceeds from the eight-year tranche are slated for general corporate purposes. Separate to Fortescue's decarbonization strategy, the company on March 29, 2022, announced that its subsidiary Fortescue Future Industries (FFI) has signed a memorandum of understanding with E.ON SE to supply Germany with up to 5 million metric tons a year of green, renewable...
