By Ben Edwards
Brazilian mining company Vale SA (VALE) is planning a benchmark-size, euro-denominated, senior, unsecured bond, maturing January 2023, one of the banks running the deal said Tuesday.
Initial price thoughts are in the area of 185 basis points over midswaps.
BNP Paribas SA, Credit Agricole CIB, HSBC Holdings PLC and Natixis are the lead managers of the sale.
The issuer is rated Baa2 by Moody's Investors Service Inc., A- by Standard & Poor's Corp. and BBB+ by Fitch Ratings.
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