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| Name | Symbol | Market | Type |
|---|---|---|---|
| Vale SA | NYSE:VALE | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.10 | 0.82% | 12.27 | 12.375 | 12.10 | 12.19 | 14,476,200 | 01:00:00 |
From May 2019 to May 2024
By Rogerio Jelmayer
SÃO PAULO--Brazilian mining company Vale SA raised $1 billion from the issue of an overseas bonds to refinance part of its existing debt, the company said Wednesday.
The bonds will mature in August 2026 and the company said it will pay an annual yield of 6.25%
Vale will use the proceeds "to pay part of the redemption price of the 6.250% notes due 2017."
Banco Bradesco BBI, BB Securities, BNP Paribas Securities Corp, Citigroup Global Markets, Inc. and Morgan Stanley coordinated the operation.
In recent weeks, Brazilian players have tapped international debt markets to take advantage of low interest rates across the globe.
At the end of July, Brazil's government sold $1.5 billion in dollar-denominated bonds due in 2047, carrying an annual yield of 5.875%. By comparison, in March, it sold $1.5 billion in dollar-denominated bonds due in 2026, at an annual yield of 6.125%.
Write to Rogerio Jelmayer at rogerio.jelmayer@wsj.com
(END) Dow Jones Newswires
August 03, 2016 19:42 ET (23:42 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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