Vale to purchase $1.5 billion in outstanding bonds

Wednesday, 20 June 2018 21:35:15 (GMT+3)   |   Sao Paulo
       

Brazilian miner and iron ore producer Vale has announced it will make an offer to buy the bonds it has issued overseas and are due in 2042. The 5.6 percent tender offer will reportedly expire on June 21.

The bonds principal is worth $1.5 billion, Vale said in a news report, adding that it will pay $1,017.50 per $1,000 principal amount of the bonds.

Vale said it hired BNP Paribas, JP Morgan, Mizuho and Santander to serve as dealer managers while D.F. King to serve as a tender and information agent for the transaction.


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