6/9/2017
Vale signs a US$ 2 billion revolving credit facility
Rio de Janeiro, June 9, 2017 – Vale S.A. (Vale) announces that it has successfully completed a US$ 2 billion syndicated revolving credit facility, which will be available for five years.
The revolving credit facility was arranged by a banking syndicate comprised of 18 global banks, led by Citibank, Crédit Agricole, RBC Capital Markets and The Bank of Nova Scotia. The syndicate also includes the following banks: ABN AMRO, Bank of Montreal, Deutsche, Mizuho, Sumitomo, UniCredit Bank, HSBC, Industrial and Commercial Bank of China, JPMorgan, Société Générale, Standard Chartered, BNP Paribas, The Bank of Tokyo-Mitsubishi UFJ and Natixis. The commitments received from the banks exceeded the amount originally requested by the company.
This revolving credit facility will replace the US$ 2 billion line that was signed in 2013 with five- years availability, which will be cancelled. Therefore, the total available amount in revolving credit facilities remains at US$ 5 billion, as we already have an existing agreement for US$ 3 billion. These facilities are liquidity sources for Vale and some of its wholly-owned subsidiaries and could be drawn at any time throughout the life of the facilities (US$ 2 billion until 2022 and US$ 3 billion until 2020).
The revolving credit lines work as a buffer and allow more efficient cash management, consistent with Vale’s strategic focus on cost of capital reduction.
http://www.vale.com/brasil/EN/investors ... ility.aspx