CIC, Fortescue Metals in talks for $1b bond issue

China Daily | Updated: 2009-08-12 05:44

China Investment Corporation is planning a $1 billion investment in the Austrlian iron ore miner. Bloomberg News

Fortescue Metals Group Ltd and China Investment Corp (CIC), China's $200-billion sovereign wealth fund, are in advanced talks on a $1-billion-plus convertible bond investment to help the Australian iron ore miner fund its expansion, two sources said yesterday.

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