Brazil's Vale to offer add-on to 4 3/8% notes due 2022

By Aleesia Forni

Columbus, Ohio, March 28 - Vale Overseas Ltd. plans to offer an add-on to its 4 3/8% notes due 2022, according to a company news release.

The company originally issued $1 billion of the notes due Jan. 11, 2022 in January at 98.804 to yield 4.525%, or Treasuries plus 255 basis points, via bookrunners Citigroup, HSBC, JPMorgan, BB Securities and Bradesco BBI. The notes were registered with the Securities and Exchange Commission.

The notes have a make-whole call.

Proceeds will be used for general corporate purposes.

The notes will be guaranteed by parent company Vale SA, a Rio de Janeiro-based mining and logistics corporation.

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