Vale repays $1 billion of borrowings under revolving credit lines

By Tali Rackner

Norfolk, Va., June 20 – Vale SA repaid $1 billion of the $3 billion drawn in January under its revolving credit lines, according to a 6-K filing with the Securities and Exchange Commission.

Vale previously said it partially used the proceeds from its $1.25 billion of 5 7/8% guaranteed notes due 2021 to repay some of its lines of credit.

The metals, mining and logistics company is based in Rio de Janeiro.

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