Vale to pay additional interest on mandatorily convertible notes

By Marisa Wong

Madison, Wis., Oct. 17 - Vale SA announced that it will pay additional interest on its mandatorily convertible notes due June 15, 2012, series VALE-2012 and VALE.P-2012, equal to R$2.813084 and R$3.253640 per note, respectively.

The additional interest will be paid in dollars at the Brazilian real/dollar exchange rate on Oct. 31.

The notes begin trading ex-dividend on the New York Stock Exchange on Oct. 17.

Vale is a mining company based in Rio de Janeiro.

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