Brazil's Vale redeems $1 bln in debt, announces $750 mln tender offer

Reuters

Mon, Aug 28, 2017, 8:29 AM

SAO PAULO, Aug 28 (Reuters) - Brazilian miner Vale SA redeemed $1 billion worth of 2019 bonds issued through a subsidiary abroad and announced a tender offer for up to $750 million worth of debt maturing in 2020, according to a securities filing on Monday.

Vale is hoping to bring down net debt to a $15 billion-to-$17 billion target this year from $22.12 billion in the second quarter. (Reporting by Bruno Federowski; Editing by Chizu Nomiyama)

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Brazil's Vale redeems $1 bln in debt, announces $750 mln tender offer

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