May 15, 2008
Vale has secured $5bn in funds from JBIC and NEXI, the long-term Japanese f
Vale has secured $5bn in funds from JBIC and NEXI, the long-term Japanese financing agencies, to cover mining, logistics and power generation projects from its 2008-2012 investment program. JBIC is putting up $3bn, while NEXI will provide loan insurance of up to $2bn. The deals are part of a broader $10bn+ financing package for Vale's capex, including a committed credit facility of BRL7.3bn from the BNDES and Brazilian National Development Bank.