Brazilian miner Vale has repurchased 34.7% of its notes maturing in 2022 with a 4.375% coupon. The company redeemed US$ 780.9 million from a total amount outstanding of US$ 2.250 billion.
Bondholders will receive US$ 1,036.50 per US$ 1,000.00 of the principal amount, plus unpaid interest. Citigroup, J.P. Morgan, Mizuho and SMBC Nikko were the managers of the transaction.
Last week, Vale also repurchased 77.4% of total outstanding notes maturing in 2021 with a 5.875% coupon.
The company redeemed US$ 968,349 million of the US$ 1.250 billion total amount outstanding. Bondholders would receive US$ 1,086.00 per US$ 1,000.00 of principal amount, plus unpaid interest.