Analyst Research

Report Title Price
Provider: Pechala's Reports
Provider: Reuters Investment Profile
Provider: Reuters Investment Profile
Provider: New Constructs, LLC

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Vale SA Contracts USD2 Billion Revolving Credit Facility

Thursday, 4 Jul 2013 06:05pm EDT 

Vale SA announced that it has entered into a contract for a five year revolving credit line facility of USD2 billion in a best effort transaction. The revolving credit line was arranged by a bank syndicate comprised by 16 global commercial banks. The syndicate includes the following banks: Barclays, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Crédit Agricole, Citibank, Deutsche Bank, HSBC, Intesa San Paolo, JP Morgan, Mizuho, Natixis, Royal Bank of Canada, The Bank of Nova Scotia, Société Générale, Standard Chartered and Sumitomo. Vale and some of its wholly owned subsidiaries can draw funds over the five-year tenor of the facility. With this facility the total amount of revolving credit lines is USD5 billion, as the Company already have an existing USD3 billion line, which will mature in 2016. The revolving credit lines work as a short term liquidity buffer that enhances liquidity and allows more efficient cash management, consistent with Vale's strategic focus on cost of capital reduction. 

Company Quote

-0.15 -2.49%
17 Apr 2015