UPDATE 1-Fortescue pays up to get $2.3 bln bond over the line

April 23, 2015 2:18 AM

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NEW YORK/SYDNEY, April 23 (Reuters) - Australian miner Fortescue Metals Group has refinanced $2.3 billion of its debt pile on a third attempt, but was forced to pay a higher yield amid investor concerns about the state of the iron ore market.

Fortescue sold senior secured notes in New York at a 10.25 percent yield on Wednesday, a far richer price than the 8.5 percent the company offered just a month ago but which was pulled after it failed to tempt investors.

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