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.