Brazilian miner and iron ore producer Vale said late this week it has redeemed its guaranteed bonds of 5.6 percent due in 2019 issued by Vale’s wholly-owned subsidiary Vale Overseas. As a result, Vale has redeemed approximately $1 billion in bonds.
Additionally, the company also said that bondholders of the $11.8 million principal of the company’s outstanding 4.6 percent guaranteed notes due in 2020 have offered their notes on September 13.
As a result, Vale has agreed to buy all of the 2020 bonds offered and is expected to pay them on Friday.
Vale said it will pay $1,037.50 per $1,000.00 principal of the 2020 bonds offered.