BNDES confirms sale of Vale debt

BNDES confirms sale of Vale debt

Bonds Debt Debenture Capital Markets Corporate & Sovereign Strategy Economy & Policy Project & Infrastructure Finance Brazil Latin America

Brazilian national development bank BNDES said Friday that it has hired Bradesco BBI to lead the sale of debentures from Vale in the secondary market, less than two months after it sold its stake in the mining company. Citi, JPMorgan and Itaú BBA will also work on the deal for up to 214 million debentures with 142 million owned by the government and the rest owned by BNDES and its investments division BNDESPar. The state-owned development bank could earn up BRL2.5 billion ($470 million) from the

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