Published on 6/7/2016 in the Prospect News Emerging Markets Daily.
New Issue: Brazil’s Vale prices $1.25 billion 5 7/8% five-year notes at par
By Christine Van Dusen
Atlanta, June 7 – Vale Overseas Ltd. sold $1.25 billion five-year notes at par to yield 5 7/8% on Tuesday, an informed source said.
BB Securities, BofA Merrill Lynch, Bradesco BBI, HSBC and Santander were the bookrunners for the Securities and Exchange Commission-registered deal.
The proceeds will be used for general corporate purposes.
Vale is a Rio de Janeiro-based producer of iron ore and nickel.
Issuer: | Vale Overseas Ltd.
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Amount: | $1.25 billion
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Maturity: | June 10, 2021
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Description: | Senior Notes
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Bookrunners: | BB Securities, BofA Merrill Lynch, Bradesco BBI, HSBC, Santander
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Coupon: | 5 7/8%
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Price: | Par
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Yield: | 5 7/8%
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Call options: | Make-whole call at Treasuries plus 50 bps
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Trade date: | June 7
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Settlement date: | June 10
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Distribution: | SEC registered
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