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Fortescue scraps notes offering

Fortescue Metals Group CEO Nev Power said the company made a "disciplined and prudent" decision to scrap a planned US$2.5 billion senior secured note offering this week amid unfavourable debt markets, but shareholders viewed it differently as its stock fell to a seven year low.

Fortescue Metals Group CEO Nev Power said the company made a “disciplined and prudent” decision to scrap a planned US$2.