Brazil’s CVRD Issues Record US$ 1 Billion in Bond to Foreigners

Brazil’s Vale do Rio Doce Company has just announced the sale of US$ 1 billion in bonds to 175 investors in Latin America, Europe, the United States, and Asia.

According to company president Roger Agnelli, the bond issue was transacted at the lowest cost ever for a Brazilian 10-year title, at an annual interest rate of about 6.25%.

"The Vale company took advantage of the favorable conditions on the global capital market and investor confidence in its financial soundness," Agnelli affirmed.

According to the executive, this was the largest bond issue ever made by a Brazilian company on foreign capital markets. The funds obtained through the operation will be used to cover the company’s financial requirements.

ABr

Tags:

You May Also Like

Black Plague May Wipe Out Brazilian Tribes

Brazil’s National Health Foundation is being accused of neglect for letting scores of Amazon ...

In Memoriam of Brazil’s Elizeth: At 85, Still Heavenly and Moony

Divine. Moonlit. Magnificent. Elizeth Cardoso sprung from the stages of Rio de Janeiro and ...

Drought Won’t Prevent Brazil from Getting Largest Cereal Crop Ever

The Brazilian government is forecasting a record crop of cereals and oilseeds totaling 148.9 ...