Issuer: |
Vale Overseas Limited | |
Guarantor: |
Vale S.A. | |
Title of securities: |
6.875% Guaranteed Notes due 2039 (the 2039 Securities). | |
Principal Amount: |
$750,000,000 | |
Single Series: |
The 2039 Securities are a further issuance of the Companys 6.875% guaranteed | |
notes due 2039 originally issued on November 10, 2009 (the Original 2039 | ||
Securities) and will be consolidated to form a single series with the $1,000,000,000 principal amount of the Original 2039 Securities then issued. | ||
Aggregate Principal |
The aggregate principal amount of the Original 2039 Securities and the 2039 | |
Amount: |
Securities now being issued will be $1,750,000,000. | |
Issue Price: |
110.872% of principal amount, plus accrued interest from May 10, 2010 to (but | |
excluding) the Closing Date. | ||
Gross Proceeds: |
US$831,540,000 (excluding accrued interest) | |
Annual Interest Rate: |
6.875% | |
Maturity: |
November 10, 2039 | |
Interest Payment Dates: |
Payable semi-annually on May 10 and November 10, commencing on November 10, 2010. Interest on the 2039 Securities will accrue from the last interest payment date of the Original 2039 Securities, such interest payment date being May 10, 2010, and purchasers of the 2039 Securities will be entitled to receive the full amount of the next semi-annual regular interest payment on November 10, 2010. | |
Yield to Maturity: |
6.074% | |
Benchmark: |
UST 4.375% due May 15, 2040 | |
Benchmark Yield: |
3.724% | |
Spread to Treasury: |
UST+235 bps | |
Pricing Date: |
September 8, 2010 | |
Settlement Date: |
September 15, 2010 (T+5) | |
Ratings*: |
Baa2 / BBB+ / BBB+ / BBB (high) (Moodys / Standard & Poors / Fitch / DBRS) | |
Minimum Denominations: |
US$2,000/US$1,000 | |
Make-Whole Call Spread: |
UST + 40 bps | |
Joint Bookrunners: |
Credit Suisse Securities (USA) LLC |
|
J.P. Morgan Securities LLC | ||
Co-Managers: |
Banco Bradesco S.A. Grand Cayman Branch |
|
BB Securities Ltd. | ||
Format: |
SEC-Registered | |
Underwriters Discount: |
0.35% | |
CUSIP: |
The 2039 Securities will have the same CUSIP as the Original 2039 Securities, | |
which is 91911TAK9. | ||
ISIN: |
The 2039 Securities will have the same ISIN as the Original 2039 Securities, which | |
is US91911TAK97. | ||
COMMON CODE: |
The 2039 Securities will have the same COMMON CODE as the Original 2039 | |
Securities, which is 046552610. | ||
Listing: |
Issuer will apply to list the 2039 Securities on the New York Stock Exchange. The | |
Original 2039 Securities are listed on the New York Stock Exchange. |
* | A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time. |