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Vale prices US$1.5 billion notes due 2033
Rio de Janeiro, June 7, 2023 – Further to the press release announced by Vale S.A. (“Vale”) on the date hereof, Vale hereby announces the pricing of the offering by its wholly-owned subsidiary Vale Overseas Limited (“Vale Overseas”) of US$1,500,000,000 6.125% Guaranteed Notes due 2033 guaranteed by Vale (the “Notes”).
The Notes will bear a coupon of 6.125% per year, payable semi-annually, and were sold at a price of 99.117% of the principal amount. The Notes will mature on June 12, 2033 and were priced with a spread of 245 basis points over U.S. Treasuries, resulting in a yield to maturity of 6.245%.
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.
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