Vale completes $3 billion five-year revolving credit facility

By Sarah Lizee

Olympia, Wash., Dec. 27 – Vale SA completed a $3 billion syndicated revolving credit facility that will be available for five years, according to a press release.

The revolving credit line was arranged by a banking syndicate comprised of 16 banks led by Citigroup, Credit Agricole, MUFG and Sumitomo Mitsui Banking Corp. The syndicate also includes Bank of China, Bank of Montreal, Mizuho, Bank of Nova Scotia, JPMorgan, Royal Bank of Canada, HSBC, Toronto-Dominion Bank, Bank of America, Barclays, Standard Chartered and Banco do Brasil.

This revolver will replace the $3 billion line that was signed in 2015 with five years availability, which will be cancelled.

The total available amount in revolving credit facilities remains at $5 billion, as Vale already has an existing agreement for $2 billion due 2022.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.