Fortescue Metals Group, the Australian iron and ore company, is planning to sell $1.9bn (€1.5bn) worth of bonds this week to part fund the $2.82bn investment programme its targeting as it seeks to better compete with rivals in China.

Fortescue and lead arranger Citigroup, which recently arranged a $200m loan for the company, are visiting investors Europe and the US this week with the bond sale expected to be completed by Friday.

Duncan Kerr

Fortescue Metals Group

Leucadia National

BHP Billiton

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Fortescue poised for $2bn bonds

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