Vale signs a US$ 3 billion revolving credit facility

5/15/2015

Vale signs a US$ 3 billion revolving credit facility

Rio de Janeiro, May 15th, 2015 – Vale S.A. (Vale) announces that it has successfully completed a US$ 3 billion syndicated revolving credit facility, which will be available for five years.

The revolving credit line was arranged by a banking syndicate comprised of 24 global banks, led by BNP Paribas, Citibank, Crédit Agricole and Sumitomo. The syndicate also includes the following banks: The Bank of Nova Scotia, Intesa San Paolo, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Mizuho, HSBC, Bank of Montreal, TD Securities, Barclays, Industrial and Commercial Bank of China, Société Générale, Standard Chartered, Santander, JP Morgan, Bank of Tokyo-Mitsubishi UFJ, Morgan Stanley, Bank of America, Goldman Sachs, ANZ Banking Group and DZ Bank. The commitments received from the banks substantially exceeded the amount originally requested by the company.

This revolving credit facility will replace the US$ 3 billion line that was signed in 2011.Therefore the total available amount in revolving credit facilities remains at US$ 5 billion, as we already have an existing agreement for US$ 2 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 2018 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. 
 

For further information, please contact:
+55-21-3485-3900

Andre Figueiredo: andre.figueiredo@vale.com
Andre Werner: andre.werner@vale.com
Samir Bassil: samir.bassil@vale.com

This press release may include statements that present Vale’s expectations about future events or results. All statements, when based upon expectations about the future, involve various risks and uncertainties. Vale cannot guarantee that such statements will prove correct. These risks and uncertainties include factors related to the following: (a) the countries where we operate, especially Brazil and Canada; (b) the global economy; (c) the capital markets; (d) the mining and metals prices and their dependence on global industrial production, which is cyclical by nature; and (e) global competition in the markets in which Vale operates. To obtain further information on factors that may lead to results different from those forecast by Vale, please consult the reports Vale files with the U.S. Securities and Exchange Commission (SEC), the Brazilian Comissão de Valores Mobiliários (CVM), and the French Autorité des Marchés Financiers (AMF), and in particular the factors discussed under “Forward-Looking Statements” and “Risk Factors” in Vale’s annual report on Form 20-F.

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Vale signs a US$ 3 billion revolving credit facility