Cleary Gottlieb represented Vale S.A. and its wholly owned subsidiary Vale Overseas Limited in concurrent liability management transactions reducing Vale S.A.’s outstanding debt by over $2.24 billion:
On March 14, 2018, Vale Overseas announced a full redemption of its 4.625 percent guaranteed notes due 2020, to settle on April 17, 2018, and concurrent cash tender offers for $1.75 billion in outstanding notes.
On March 21 and 22, 2018, Vale Overseas repurchased an aggregate principal amount of over $969 million of its 5.875 percent guaranteed notes due 2021.
On March 28, 2018, Vale Overseas repurchased an aggregate principal amount of over $788 million of its 4.375 percent guaranteed notes due 2022.