By Marisa Wong
Morgantown, W.Va., Sept. 18 – Vale SA announced it issued an upsized R$1.35 billion of local infrastructure debentures.
The company said it had expected to raise R$1 billion but increased the size of the deal given the demand for the debentures.
The inflation-linked debentures are due in 2020 and 2022 and have coupons of IPCA plus 662.32 basis points and IPCA plus 662.52 bps, respectively.
Vale will use proceeds to invest in its infrastructure projects.
The metals, mining and logistics company is based in Rio de Janeiro.
| Issuer: | Vale SA
|
| Issue: | Local infrastructure debentures
|
| Amount: | R$1.35 billion
|
| Maturities: | 2020 and 2022
|
| Coupons: | IPCA plus 662.32 bps and IPCA plus 662.52 bps
|
| Announcement date: | Sept. 18
|
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