Nikola Corporation (NASDAQ:NKLA) has signed a memorandum of understanding (MOU) with Fortescue Future Industries (FFI) to explore large-scale green hydrogen production in the U.S. This partnership leverages Nikola's need for green hydrogen to decarbonize the transportation sector and FFI's expertise in hydrogen project development. The MOU outlines an evaluation of hydrogen offtake opportunities from FFI's projects and potential co-development of new production facilities. Nikola's President highlighted this collaboration as a strategic move in energy transition, while FFI's CEO noted North America's potential for becoming a leader in green energy.
FMG Resources has announced the expiration of its cash tender offers for its 4.750% Senior Notes due 2022 and 5.125% Senior Notes due 2023, which concluded on March 25, 2021. A total of US$601.1 million of the 2022 Notes and US$356 million of the 2023 Notes were validly tendered. Holders of the accepted Notes will receive US$1,047 for each US$1,000 of the 2022 Notes and US$1,070 for the 2023 Notes, plus accrued interest, with payments expected on March 26, 2021, and March 30, 2021, respectively.
FMG Resources has amended its tender offer for debt securities, extending the expiration date from March 24 to March 25, 2021. The company is now offering to buy back its 4.750% Senior Notes due 2022 and 5.125% Senior Notes due 2023. Notably, the total consideration offered for the 2022 Notes is US$1,047.00 per US$1,000 principal, while the 2023 Notes are offered at US$1,070.00. The tender offers will finalize on March 25, 2021, with settlement expected shortly thereafter.
FMG Resources, a subsidiary of Fortescue Metals Group, has initiated a cash tender offer for its 4.750% Senior Notes due 2022. The offer is open until March 24, 2021, with a settlement date expected on March 25, 2021. Holders will receive a total consideration of US$1,047.00 per US$1,000 principal amount of Notes accepted, along with accrued interest. The tender offer is contingent on the completion of a senior unsecured notes offering to raise sufficient funds for the transaction, with J.P. Morgan acting as the Dealer Manager.