Summary by Moomoo AI
Vale SA, a leading mining company, has announced the pricing of a $1 billion notes offering through its wholly-owned subsidiary, Vale Overseas Limited. The 6.400% Guaranteed Notes, due in 2054, will have a semi-annual coupon rate and were sold at 99.235% of their principal amount. The notes, maturing on June 28, 2054, have been priced with a yield to maturity of 6.458%, which includes a 210 basis point spread over U.S. Treasuries. These unsecured obligations are fully and unconditionally guaranteed by Vale and will rank equally with Vale's other unsecured and unsubordinated debt. The proceeds from the offering are intended to fund the purchase of certain notes under a tender offer, redeem the 6.250% Guaranteed Notes due 2026, and for general corporate purposes. The offering was...Show More