SAO PAULO Feb 18 Vale SA, the
world's largest iron ore producer, will move forward with a
planned offering of 10-year, U.S. dollar-denominated global
bonds during the first half of the year, a source with direct
knowledge of the transaction said.
The sale of the senior notes will take place when market
conditions look most favorable to lower the Rio de Janeiro-based
company's borrowing costs, said the source, who declined to be
identified since the transaction is still being analyzed. The
source declined to detail potential terms of the deal, such as
the size of the issue.
A spokesman for the Rio de Janeiro-based company declined to
comment on the potential sale.
(Reporting by Guillermo Parra-Bernal; Additional reporting by
Jeb Blount in Rio de Janeiro Editing by W Simon)