Brazil's CVRD to host Wednesday conference call for $2.5 billion 10-, 30-year paper

By Paul A. Harris

St. Louis, Nov. 14 - Vale Overseas Ltd., a wholly owned subsidiary of Brazilian mining company Companhia Vale do Rio Doce (CVRD), will host an investor call on Wednesday for its $2.5 billion offering of notes (expected ratings Baa3/BBB), which are being offered in 10-year and 30-year tranches, according to a market source.

Ensuing roadshow presentations will be made in New York City, Boston and Los Angeles on Wedneday and Thursday.

Credit Suisse, UBS, ABN Amro and Santander are joint bookrunners for the Securities and Exchange Commission-registered deal.

Proceeds will be used to help refinance debt incurred in the $16.9 billion acquisition of nickel producer Inco. Ltd.

CVRD has headquarters in Rio de Janeiro, Brazil.

The issuer raised $1 billion in the dollar-denominated bond market on Jan. 5, 2006 with the issue of a 6¼% 10-year global bond (Baa3/BBB), which priced at 99.97 to yield 6.254%.

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