Vale’s $1.5 Billion Bond Offering

Cleary Gottlieb Steen & Hamilton Vale S.A., while Pinheiro Guimarães acted as counsel to the underwriters in the offering.

Vale Overseas Limited issued $1.5 billion 3.750% global notes due 2030, which are unconditionally and irrevocably guaranteed by Vale S.A. The notes will be listed on the New York Stock Exchange. The offering priced on July 6 and closed on July 8.

BB Securities Limited, Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., Mizuho Securities USA LLC, MUFG Securities Americas Inc., and SMBC Nikko Securities America, Inc. acted as underwriters for the offering.

Vale S.A. is a Brazilian multinational corporation engaged in metals and mining and one of the largest logistics operators in Brazil. Vale, formerly Companhia Vale do Rio Doce (the Sweet River Valley Company, referring to the Doce River), is the largest producer of iron ore and nickel in the world.

The Cleary corporate team advising Vale included partner Nick Grabar (Picture), counsel Jonathan Mendes, Silvia Fittipaldi, and Steven Diaz. Nick Grabar and Steven Diaz are based in New York. Jonathan Mendes and Silvia Fittipaldi are based in São Paulo.

Pinheiro Guimarães advised the underwriters with a team led by partners Plinio Pinheiro Guimarães N. and Roberta Pimentel and by senior associate Julia Benvenuto.

Involved fees earner: Silvia Fittipaldi – Cleary Gottlieb Steen & Hamilton; Nicolás Grabar – Cleary Gottlieb Steen & Hamilton; Jonathan Mendes de Oliveira – Cleary Gottlieb Steen & Hamilton; Júlia Benvenuto – Pinheiro Guimarães; Roberta Giamattey Pimentel Fonseca – Pinheiro Guimarães; Plinio Pinheiro Guimarães (n) – Pinheiro Guimarães;

Law Firms: Cleary Gottlieb Steen & Hamilton; Pinheiro Guimarães;

Clients: BB Securities Ltd; Citigroup Global Markets Ltd; Credit Agricole Securities (USA) Inc.; Mizuho Securities; MUFG Securities Americas Inc. ; SMBC Nikko Securities America; Vale S.A.;

Author: Ambrogio Visconti