November 20, 2017 11:41 AM ET

Metals and Mining

Company Overview of Vale Overseas Limited

Company Overview

Vale Overseas Limited issues debt guaranteed by Vale S.A. The company was incorporated in 2001 and is based in Rio de Janeiro, Brazil. Vale Overseas Limited operates as a subsidiary of Vale S.A.

Avenida Graca Aranha No 26

Rio de Janeiro, RJ 20030-900

Brazil

Founded in 2001

Phone:

55 21 3814 4540

Key Executives for Vale Overseas Limited

Compensation as of Fiscal Year 2017.

Vale Overseas Limited Key Developments

Vale Overseas Limited Announces Completion of the Redemption of Notes Due 2019 and Final Tender Results of Cash Tender Offer for Notes Due 2020

Vale S.A. (Vale) announced the completion of the redemption of the 5.625% guaranteed notes due 2019 (CUSIP No. 91911TAJ2) (2019 Notes) issued by its wholly-owned subsidiary Vale Overseas Limited (Vale Overseas), pursuant to the exercise of the right to redeem such 2019 Notes. Vale Overseas redeemed all of its USD 1,000,000,000.00 outstanding 2019 Notes and paid the related “make-whole” premium calculated in accordance with the terms of the indenture governing the 2019 Notes. Vale also announced that holders of USD 11,840,000.00 principal amount of the outstanding 4.625% guaranteed notes due 2020 (CUSIP No. 91911TAL7) (2020 Notes), issued by Vale Overseas, validly tendered their 2020 Notes after 5:00 p.m., New York City time, on September 13, 2017 (Early Tender Date) and at or prior to 11:59 p.m., New York City time, on September 27, 2017 (Expiration Date), pursuant to Vale Overseas’ cash tender offer. Vale Overseas has accepted for purchase all of the 2020 Notes validly tendered in the Tender Offer after the Early Tender Date and on or prior to the Expiration Date. The final settlement date on which Vale Overseas will make payment for 2020 Notes accepted in the Tender Offer after the Early Tender Date is expected to be September 29, 2017 (Final Settlement Date). Holders of 2020 Notes that validly tendered after the Early Tender Date but on or prior to the Expiration Date and whose 2020 Notes have been accepted for purchase are entitled to receive the total consideration of USD 1,037.50 per USD 1,000.00 principal amount of 2020 Notes tendered, and to receive accrued and unpaid interest on their accepted 2020 Notes from the last interest payment date to, but not including, the Final Settlement Date. 2020 Notes validly tendered after the Early Tender Date and on or prior to the Expiration Date cannot be withdrawn, except as may be required by applicable law. The total principal amount of 2020 Notes accepted for purchase pursuant to the Tender Offer is USD 501,225,000.00, including the 2020 Notes tendered on or prior to the Early Tender Date. The Tender Offer has now expired. No 2020 Notes tendered after the Expiration Date will be accepted for purchase pursuant to the Tender Offer.

Vale Overseas Limited Announces Early Tender Results and Early Settlement for Cash Tender Offer

Vale S.A. announced that holders of USD 489,385,000.00 principal amount of the outstanding 4.625% guaranteed notes due 2020 (CUSIP N. 91911TAL7), issued by its wholly-owned subsidiary Vale Overseas Limited, tendered their Notes on September 13, 2017 (the “Early Tender Date”), pursuant to Vale Overseas’ cash tender offer announced in the press release dated August 28, 2017. Vale Overseas will not extend the Early Tender Date. Vale Overseas has accepted for purchase all of the Notes validly tendered in the Tender Offer on or prior to the Early Tender Date. The early settlement date on which Vale Overseas will make payment for the Notes accepted in the Tender Offer is expected to be September 18, 2017 (the “Early Settlement Date”). Holders whose Notes have been accepted for purchase will be entitled to receive the total consideration of USD 1,067.50 per USD 1,000.00 principal amount of Notes tendered, which includes an early tender premium of USD 30.00 per USD 1,000.00 principal amount of Notes validly tendered, and to receive accrued and unpaid interest from, and including, the last interest payment date to, but not including, the Early Settlement Date. The total cash payment to purchase the accepted Notes on the Early Settlement Date will be USD 522,418,487.50, excluding accrued and unpaid interest. Holders who validly tender their Notes after the Early Tender Date but on or before September 27, 2017 (the “Expiration Date”) and whose Notes are accepted for purchase will be eligible to receive the tender offer consideration of USD 1,037.50 per USD 1,000.00 principal amount of Notes tendered, and to receive accrued and unpaid interest on their accepted Notes from the last interest payment date to, but not including, the final settlement date. Notes that are validly tendered after the Early Tender Date cannot be withdrawn, except as may be required by applicable law. Subject to the terms and conditions of the Tender Offer, if the purchase of all Notes validly tendered after the Early Tender Date and on or prior to the Expiration Date would cause Vale Overseas to purchase in the Tender Offer an aggregate principal amount of Notes in excess of USD 750,000,000.00 (the “Maximum Tender Amount”), Vale Overseas will accept for purchase all Notes validly tendered after the Early Tender Date and on or prior to the Expiration Date on a prorated basis such that Vale Overseas purchases in the Tender Offer an aggregate amount of Notes equal to the Maximum Tender Amount.

Vale Overseas Limited Announces Earnings Results for the Third Quarter of 2016

Vale Overseas Limited announced earnings results for the third quarter of 2016. For the quarter, the company's adjusted EBITDA of $3.0 billion, an increase of 27% and 61% compared with second quarter of 2016 and third quarter of 2015, respectively. The increase in EBITDA was driven by the combination of higher iron ore prices, up 5% and 6% compared with second quarter of 2016 and third quarter of 2015, respectively, and lower break-even EBITDA of $28.30 per dry metric tonne on a landed-in-China basis.

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