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.


Most Recent Related Articles

Vale’s CSP gets international certification, eyes US automotive market

Vale hires Hidrovias do Brasil to transport 3.2 million mt of iron ore in 2021

Court denies Vale’s asset freeze request

Vale says prosecutors’ multi-billion Samarco claim is without grounds

Vale suspends dam works and concentration activities, loses 11,000 mt/day capacity