The London-based International Financing Review (IFR), part of the Thomson Reuters group, has given Vale an award in the “Loan of the Year – Latin America” category. The conditions and interest rate of the rotating credit line, taken out in April 2011, were considered to be world class.
“This award means recognition for our professionals for their capacity and ability in conducting large-scale financial operations, to the benefit of our company. Operations of this modality clearly bring gains through a lower effective cost of capital for Vale,” said the company’s CFO, Tito Martins.
International Financing Review
The International Financing Review (IFR) has covered the capital markets for nearly 40 years, and is aimed at decision makers and leaders in the financial industry. The 2011 IFR Awards were the 17th edition. The official awards ceremony will take place in London on January 18, 2012.