Brazil’s Vale gets $2 billion five-year revolving credit facility

By Angela McDaniels

Tacoma, Wash., June 12 – Vale SA completed a $2 billion five-year revolving credit facility, according to a 6-K filing with the Securities and exchange Commission.

The syndicate was led by Citibank, Credit Agricole, RBC Capital Markets and Bank of Nova Scotia. The syndicate also includes ABN Amro, Bank of Montreal, Deutsche Bank, Mizuho, Sumitomo, UniCredit Bank, HSBC, Industrial and Commercial Bank of China, JPMorgan, Societe Generale, Standard Chartered, BNP Paribas, MUFG and Natixis.

The company said the commitments received from the banks exceeded the amount originally requested.

This revolver will replace the $2 billion line that was signed in 2013 with five years of availability, which will be canceled. The company already has an existing agreement for $3 billion that expires in 2020, so the total available amount in revolving credit facilities remains $5 billion.

Vale is a metals, mining and logistics company based in Rio de Janeiro.

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