Vale Overseas Ltd sold US$1bil of new dollar notes maturing in 30 years. — Bloomberg
RIO DE JANEIRO: Vale, the world’s second largest iron-ore producer, tapped international bond markets for the first time in a year amid a debt buyback.
Vale Overseas Ltd, a subsidiary of the Rio de Janeiro-based firm, sold US$1bil of new dollar notes maturing in 30 years at a spread of 210 basis points over similar US Treasuries, according to people familiar with the matter.
