Vale Said to Sign $1 Billion Bank Funding Backed by GlencoreBy and
Glencore said to help organize bank syndicate for loan
Swiss trading house retains minimal exposure to Vale borrowing
Vale SA borrowed $1 billion from a global assembly of banks, guaranteeing it with iron-ore shipments to Glencore Plc, people with knowledge said, in an arrangement that shows the cash squeeze faced by miners.
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