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Vale SA concludes 1 bln Brazilian reias offer of local infrastructure debentures


Wednesday, 19 Feb 2014 07:53am EST 

Vale SA:Says the conclusion of the issuance of local infrastructure debentures.Initially, Vale expected to raise 750 mln Brazilian reias, but decided to increase the issuance to 1 bln Brazilian reias given the demand it had for the instrument.The debentures will be nominally updated based on inflation and will bear annual interests, priced at IPCA + 6.46 pct. p.a., IPCA + 6.57 pct. p.a., IPCA + 6.71 pct. p.a. and IPCA + 6.78 pct. p.a., and maturities in 2021, 2024, 2026 and 2029, respectively.Says the debentures were rated as brAAA by Standard & Poor's Rating Services, Aaa.br by Moody's Investor Services, and AAA(bra) by Fitch Ratings.Says the net proceeds of the offer will be used to invest in its infrastructure projects, according to the second article of the law 12,431, of June 24, 2011, as amended.