Brazil, BNDES pocket $2 bln for Vale debentures

Brazil, BNDES pocket $2 bln for Vale debentures

Corporate & Sovereign Strategy Economy & Policy Debt Debenture Capital Markets Latin America South America Brazil Politics

The Brazilian government and the national development bank BNDES have earned BRL11.5 billion ($2.01 billion) from the sale of debentures issued by local mining company Vale, according to a securities filing on Tuesday. The deal in the in the secondary market involved 214 million debentures for BRL53.50 each. The government sold 141 million debentures, while BNDES sold 62 million and the bank's investments division, BNDESPar, sold 10.6 million, Vale said in the filing. BNDES and BNDESPar announce

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