Vale informs that it has repaid US$ 1 billion out of the US$ 3 billion drawn under the Revolving Credit Lines in January 2016

OREANDA-NEWS. Vale informs that it has repaid US$ 1 billion out of the US$ 3 billion drawn under the Revolving Credit Lines in January 2016. As previously announced, Vale partially used the proceeds from the US$ 1.250 billion, 5.875% Guaranteed Notes due 2021, to repay some of its lines of credit.

The above mentioned amortization is consistent with Vale’s strategy on managing its debt profile by extending its average maturity while resetting the available funding from the Revolving Credit Lines.