Brazil’s Vale launches cash tender offer for 5 5/8% notes due 2042

By Marisa Wong

Morgantown, W.Va., June 14 – Vale SA announced it began an offer to purchase for cash any and all of its $1.5 billion outstanding 5 5/8% notes due 2042.

The company is offering $1,017.50 per $1,000 of notes tendered, plus accrued interest to but excluding the settlement date.

The offer expires at 5 p.m. ET on June 21. The deadline for tenders under guaranteed delivery procedures is 5 p.m. ET on June 25.

Tenders may be withdrawn prior to the expiration of the offer.

Settlement of the tender offer is slated for June 26. The settlement date is June 28 for tenders under guaranteed delivery procedures.

The offer is not conditioned on any minimum principal amount being tendered.

BNP Paribas Securities Corp. (212 841-3059 or 888 210-4358), J.P. Morgan Securities LLC (212 834-7279 or 866 846-2874), Mizuho Securities USA LLC (212 205-7736 or 866 271-7403) and Santander Investment Securities Inc. (212 940-1442 or 855 404-3636) are dealer managers. D.F. King (212 269-5550 or 866 796-7184) is tender and information agent.

Vale is a Rio de Janeiro-based metals and mining company.

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