Fortescue seeks to restructure its debt

Australia's Fortescue Metals Group, the world's fourth-largest iron ore miner, said it planned to announce a restructuring of its hefty debt load next week, seeking to allay mounting liquidity concerns and arrest a plunge in its stock.

Fortescue has become something of a lightning rod for investor concerns about the prospects for Australia's resources boom, which is stumbling after a seven-year bull run. The stock is down 39 per cent since the end of June.

via Business feed http://www.scmp.com/business/companies/article/1037148/fortescue-seeks-restructure-its-debt