Vale Closes Loan with 16 Banks

Vale Closes Loan with 16 Banks

Loans

Brazil’s Vale closed a $2bn 5-year revolving credit facility last week. The miner issued an RFP in May for the best-efforts deal, on which it pays Libor+55bp plus a utilization grid. It pays 17.5bp on the undrawn loan. BNP Paribas and Credit Agricole

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