Vale pays off $5 billion in debt

Tuesday, 29 September 2020 22:38:19 (GMT+3)   |   Sao Paulo

Brazilian miner and iron ore producer Vale said this week it has paid off $5 billion in debt, which was part of a revolving credit line.

Out of the total $5 billion credit line, $2 billion was due in June 2022, and $3 billion in December 2024. After paying off all the $5 billion debt, the company can once again take loans from the credit facility, which is now available again.

Vale took the $5 billion revolving credit loan in March this year, after the outbreak of Covid-19.

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