Vale increases debenture to BRL1bn

Vale increases debenture to BRL1bn

Vale has increased the size of debentures it is selling in the local market to BRL1bn ($414m), from the BRL750m size indicated when it first unveiled the plans in December. The miner said last week it would price a BRL600m tranche at 6.46% over the IPCA. That will amortize over two years, with a final maturity in January 2021. A BRL150m tranche paying 6.57% over IPCA will amortize over three years, with the final maturity in 2024. A BRL100m piece paying 6.71% over will amortize over three years,

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