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Vale prices US$ 1.5 billion notes due 2030
Vale hereby announces the pricing of the offering by its wholly-owned subsidiary Vale Overseas Limited of US$1,500,000,000 3.750% Guaranteed Notes due July 2030 guaranteed by Vale.
The notes will bear a coupon of 3.750% per year, payable semi-annually, and were sold at a price of 99.176% of the principal amount. These notes will mature on July 8, 2030 and were priced with a spread of 317.1 basis points over U.S. Treasuries, resulting in a yield to maturity of 3.850%.
The notes are rated BBB- negative by Standard & Poor's Rating Services, Ba1 stable by Moody's Investor Services, BBB- stable by Fitch Ratings and BBBL stable by DBRS Morningstar. The notes will be unsecured obligations of Vale Overseas and will be fully and unconditionally guaranteed by Vale. The guaranty will rank equally in right of payment with all of Vale's other unsecured and unsubordinated debt obligations.
Vale intends to apply the net proceeds from the offering for general corporate purposes.
BB Securities Limited, Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., Mizuho Securities USA LLC, MUFG Securities Americas Inc. and SMBC Nikko Securities America, Inc. are acting as joint lead managers and joint bookrunners.
Media Relations Office - Vale
imprensa@vale.com
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