OREANDA-NEWS. Vale informs the conclusion of the issuance of local infrastructure debentures. Initially, we expected to raise BRL 750 million, but decided to increase the issuance to BRL 1 billion given the demand it had for the instrument.

The debentures will be nominally updated based on inflation and will bear annual interests, priced at IPCA + 6.46% p.a. (corresponding to NTN-B 2020 - 0.15%), IPCA + 6.57% p.a. (corresponding to NTN-B 2022 - 0.10%), IPCA + 6.71% p.a. (corresponding NTN-B 2024 + 0%) and IPCA + 6.78% p.a. (corresponding to NTN-B 2030 + 0%), and maturities in 2021, 2024, 2026 and 2029, respectively. Considering the total amount raised, nearly 90% of the offer was allocated to retail investors, reaching a total of 4.100 investors.

The debentures were rated as brAAA by Standard & Poor's Rating Services, Aaa.br by Moody's Investor Services, and AAA(bra) by Fitch Ratings. The instrument represents an obligation with no guaranties and will be pari passu to all Vale's obligations of the same nature.

Vale will use the net proceeds of the offer to invest in its infrastructure projects, according to the second article of the law 12,431, of June 24, 2011, as amended.?