Vale takes out huge loans as emergency financing

The Brazilian mining major will borrow USD 3 billion as emergency financing through credit facilities in order to ensure the company's liquidity, writes the Wall Street Journal.
Photo: Vale
Photo: Vale

Brazilian mining company Vale needs emergency funding, and will now take out a loan of USD 3 billion in order to strengthen liquidity and make payments on bond loans set to expire this month, writes the Wall Street Journal. According to the newspaper, the mining company did not disclose at which interest rate the loan is taken out, but informs that an additional USD 2 billion were made available.

Already a subscriber?Log in here

Read the whole article

Get access for 7 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
Must be at least 8 characters, including three of: Uppercase, lowercase, numbers, symbols
Must contain at least 2 characters
Must contain at least 2 characters

Get full access for you and your coworkers

Start a free company trial today

Share article

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

Newsletter terms

Front page now

Further reading