Vale wraps up 2022 tender

Vale wraps up 2022 tender

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Brazil

Vale said it accepted no more tenders after last month's initial deadline, where bondholders offered up $1.1bn of the firm's outstanding $2.2bn in 4.375% 2022 bonds. The Brazilian miner accepted to buy back $781m of the $1.1bn tendered and offered noteholders $1,036 for every $1,000 exchanged in principal. Citi, JPMorgan, Mizuho and SMBC were joint dealer managers on the liability management exercise. Cleary Gottlieb said in an emailed statement that it was legal advisor to Vale. The same invest

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