17
May
01:00
Vale secures multi-billion revolving credit facility from bank syndicate
Brazil’s Vale tells Kallanish that it has successfully completed a $3 billion syndicated revolving credit facility, which will be available for five years.
The revolving credit line was arranged by a banking syndicate comprised of 24 global banks, led by BNP Paribas, Citibank, Crédit Agricole and Sumitomo. The commitments received from the banks substantially exceeded the amount originally requested by the company, the iron ore miner says.
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Very good overview of the weekly steel market.
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