World’s Largest Iron Ore Miner in Debt Offerings Totaling $2.25 Billion

April 4, 2012

Cleary Gottlieb represented long-standing client Vale S.A. and its wholly-owned subsidiary Vale Overseas Limited in Vale Overseas’s $1 billion original offering and $1.25 billion reopening of 4.375% Guaranteed Notes due 2022, which are guaranteed by Vale. The offerings were takedowns from Vale Overseas and Vale’s automatic shelf registration statement. The original offering closed on January 11, and the reopening closed on April 4.

Vale, the largest diversified mining company in the Americas by market capitalization and one of Brazil’s largest companies, is the world’s largest producer and exporter of iron ore and pellets. Vale also produces other metals and minerals, operates several major Brazilian railways and ports and has significant holdings in the Brazilian steel and energy sectors.