BNDES sets up sale of Vale debentures

BNDES sets up sale of Vale debentures

Corporate & Sovereign Strategy Economy & Policy Debt Debenture Capital Markets Latin America South America Brazil Loans Rule 476 Energy Wind

Brazil's national development bank BNDES and its investments division BNDESPar plan to start selling debentures issued by Vale less than two weeks after it sold its equity stake in the mining company. BNDES informed Vale that it intends to sell part or all of the debentures in the secondary market in the second quarter of this year, Vale said in a securities filing on Tuesday. BNDES, BNDESPar and the federal government hold 55% of the BRL3.89 million ($691 million) in perpetual notes that Vale i

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