New Issue: Brazil’s Vale prices $1.25 billion 5 7/8% five-year notes at par

By Christine Van Dusen

Atlanta, June 7 – Vale Overseas Ltd. sold $1.25 billion five-year notes at par to yield 5 7/8% on Tuesday, an informed source said.

BB Securities, BofA Merrill Lynch, Bradesco BBI, HSBC and Santander were the bookrunners for the Securities and Exchange Commission-registered deal.

The proceeds will be used for general corporate purposes.

Vale is a Rio de Janeiro-based producer of iron ore and nickel.

Issuer:	Vale Overseas Ltd.
Amount:	$1.25 billion
Maturity:	June 10, 2021
Description:	Senior Notes
Bookrunners:	BB Securities, BofA Merrill Lynch, Bradesco BBI, HSBC, Santander
Coupon:	5 7/8%
Price:	Par
Yield:	5 7/8%
Call options:	Make-whole call at Treasuries plus 50 bps
Trade date:	June 7
Settlement date:	June 10
Distribution:	SEC registered

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