CVRD Raises $2.6 Billion Via Debentures Sale

CVRD Raises $2.6 Billion Via Debentures Sale

Brazil

Brazilian iron-ore producer Companhia Vale do Rio Doce (CVRD) announced Friday that after bookbuilding, its issue of debentures totaled 5.5 billion reais ($2.57 billion), representing one of the largest such domestic bond issues in Brazil by a non-financial company. The issue of the debentures is still awaiting final approval by the local securities commission (CNV). The first series was for 1.5 billion reais ($700 million) of debentures, maturing November 2010 and paying interest at 101.75% of

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