Vale SA on Sept. 26 priced its previously announced cash tender offering of its outstanding notes, which was upsized to US$1.08 billion from US$1.0 billion.
The mining major capped the buyback's first pool at US$700 million, comprising guaranteed 6.875% notes due 2036 and 2039 and 7.20% debentures due 2032. The second tender group, which was uncapped, includes guaranteed 6.250% notes due 2026, 8.250% notes due 2034 and 4.375% notes due 2022.
The tender offer will expire Oct. 9.
Banco Bradesco BBI S.A., Itau BBA USA Securities, Inc., J.P. Morgan Securities LLC, Santander Investment Securities Inc. and Scotia Capital (USA) Inc. are dealer managers while D.F. King & Co., Inc. is the tender and information agent.
