Business Services Industry

Vale enters US$64mil finance with Eximbank.

South American Business Information, June, 2003

Brazil, Jun 20, 2003 (Gazeta Mercantil/SABI via COMTEX)

The Brazilian mining company CVRD (Companhia Vale do Rio Doce) has outlined a strategy to raise resources overseas. The company has chosen operations through multilateral banks. It has recently entered a US$64mil, from a total of US$120mil total finance to be disbursed by Eximbank. The business is being made through ABN Amro and the company will soon sign a US$60mil contract. In the beginning of 2003 Vale borrowed US$300mil from JBIC (Japan Bank for International Companies). In the international capital market, Vale has US$800mil in bonds and other US$300mil in securitized papers - a total of US$1.bil. Over the Q1 2003 (Jan-March) CVRD exported US$800mil or 18,2% of the Brazilian trade surplus.

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