Brazil miner Vale says to offer convertible notes
RIO DE JANEIRO, July 6 (Reuters) - Brazilian miner Vale said on Monday it plans to offer notes that will mature in 2012 and mandatorily be converted to American depository shares to be used for general corporate purposes.
The company said the ADS will represent up to an aggregate of some 18.5 million common shares and 47.3 preferred class A shares of Vale.
The operation would bring in some $2 billion reais ($1.0 billion) based on Monday's stock price.
(Reporting by Brian Ellsworth; Editing by Richard Chang)
© Thomson Reuters 2009 All rights reserved
Wall St meets "The Sopranos"
Details of an alleged insider trading ring read like the script of a mobster drama, full of coded nicknames, disposable cell phones and paranoia about informants. But in the end, all of the precautions were for naught. Full Article
