By Christine Van Dusen
Atlanta, March 17 - Brazil's Vale SA priced €750 million 4 3/8% notes (Baa2/BB+/BBB) due March 24, 2018 at 99.564 to yield 4.441%, or mid-swaps plus 140 basis points, according to a company announcement.
The bookrunners for the U.S. Securities and Exchange Commission-registered deal were BNP Paribas, Credit Agricole CIB, HSBC and Banco Santander.
The deal had been talked at mid-swaps plus 140 bps to 150 bps, then was revised to 140 bps over mid-swaps.
Proceeds will be used for general corporate purposes.
Vale is a Rio de Janeiro-based metals and mining company.
| Issuer: | Vale SA
|
| Amount: | €750 million
|
| Maturity: | March 24, 2018
|
| Description: | Senior notes
|
| Bookrunners: | BNP Paribas, Credit Agricole CIB, HSBC, Banco Santander
|
| Coupon: | 4 3/8%
|
| Price: | 99.564
|
| Yield: | 4.441%
|
| Spread: | Mid-swaps plus 140 bps
|
| Trade date: | March 17
|
| Settlement date: | March 24
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BB+
|
| Fitch: BBB
|
| Distribution: | Securities and Exchange Commission-registered
|
| Price talk: | Mid-swaps plus 140 bps, revised from 140 bps to 150 bps range
|
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