Summary by Moomoo AI
Vale SA, the mining giant, has announced the redemption of its 6.250% guaranteed notes due in 2026. The announcement was made on June 28, 2024, and follows a notification to holders of the notes by Vale's wholly-owned subsidiary, Vale Overseas Limited, on June 25, 2024. The total outstanding amount of the 2026 Notes being redeemed is US$470,342,000.00. The redemption is scheduled for July 25, 2024, at a price that will be the greater of 100% of the principal or a sum based on a specified Treasury Rate plus 50 basis points, in addition to accrued interest. The redemption aligns with the terms set in the indenture governing the 2026 Notes. Holders of the notes through The Depository Trust Company are advised to follow DTC's procedures for the redemption. This move is part of Vale's financial management and does not constitute a notice of redemption. The press release also includes forward-looking statements and acknowledges risks and uncertainties in the global economy and markets that could affect future results.