Vale sells $1.5 billion worth of 10-year debt

Vale sells $1.5 billion worth of 10-year debt

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Funds Brazil Latin America

Brazilian miner Vale sold on Monday $1.5 billion worth of 10-year debt at a discount, tapping this tenor in US dollars for the first time since 2016, but brought strong demand with order books over $8 billion, according to a source with direct knowledge of the transaction. The new senior unsecured debt, issued by the Vale Overseas Ltd. subsidiary, priced at 99.176, carry a coupon of 3.75% and yield 3.85%. Initial price talk was in the 4.375% area, the source said. The spread over benchmark US Tr

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial