Vale SA said June 9 that it secured a US$2 billion syndicated revolving credit facility, which will be available for five years.

The facility will replace the US$2 billion line that was signed in 2013 with a five-year availability, which will be canceled.

The facility can be drawn at any time throughout its life until 2022. An existing US$3 billion facility can be drawn at any time until 2020.

The revolving credit facility was arranged by a banking syndicate comprising 18 global banks led by Citibank, Crédit Agricole, RBC Capital Markets and The Bank of Nova Scotia.

The syndicate also includes ABN AMRO, Bank of Montreal, Deutsche, Mizuho, Sumitomo, UniCredit Bank, HSBC, Industrial and Commercial Bank of China, JPMorgan, Société Générale, Standard Chartered, BNP Paribas, The Bank of Tokyo­-Mitsubishi UFJ and Natixis.