Vale to Sell 30-Year Bonds in Overseas Markets Today

By Veronica Navarro Espinosa

Nov. 3 (Bloomberg) -- Vale SA, the Rio de Janeiro-based company that is the world’s largest iron-ore producer, plans to sell benchmark bonds today in its second overseas dollar note offering this year, said a person familiar with the transaction.

Vale may sell the bonds to yield 2.70 percentage points above similar-maturity U.S. Treasuries, said the person, who declined to be identified because terms aren’t set. A benchmark issue is typically for at least $500 million. Deutsche Bank AG, HSBC Holdings Plc and JPMorgan Chase & Co. are arranging the offering, Vale said in a filing to Brazil’s securities regulator."

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