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Photographer: Ricardo Teles
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Photographer: Ricardo Teles

Debt Securities

Learn more about the issued and outstanding Debt Securities.
In the table below, you can also find the corporate credit risk rating - in foreign currency and local currency - and data on net debt, allowing an analysis of the investment in these fixed income securities.
Debt securities issued and outstanding.
Maturity Issue date Coupon (%) Currency Principal (million) ISIN Prospectuses Issuing Guarantor
10-Aug-26
06-Feb-2017
6.250
US$
1.000
US91911TAP84
Vale Overseas
Vale
10-Aug-26
03-Aug-2016
6.250
US$
1.000
US91911TAP84
Vale Overseas
Vale
8-Jul-30
6-Jul-20
3.750
US$
1.500
US91911TAQ67
Vale Overseas
Vale
15-Sep-32
18-Sep-02
7.200
USD
400
US453258AP01
Vale Canada
-
17-Jan-34
15-Jan-04
8.250
US$
500
US91911TAE38
Vale Overseas
Vale
17-Jan-34
26-Oct-05
8.250
US$
300
US91911TAE38
Vale Overseas
Vale
21-Nov-36
21-Nov-06
6.875
US$
2.500
US91911TAH68
   Notes 2036
Vale Overseas
Vale
10-Nov-39
08-Set-10
7
US$
750
US91911TAK97
   Notes 2039
Vale Overseas
Vale
10-Nov-39
10-Nov-09
6.875
US$
1.000
US91911TAK97
   Notes 2039
Vale Overseas
Vale
11-Sep-42
04-Oct-12
5.625
US$
1.500
US91912EAA38
   Notes 2042
Vale
Corporate Credit Rating - Foreign currency
Agencies Rating Last update
Baa3
10/26/2022
BBB
02/02/2022
BBB
03/29/2022
DBRS
BBBL
06/24/2022
Corporate Credit Rating - Local currency
Agencies Rating Last update
Moody's
03/04/2022
AAA(bra)
02/02/2022
brAAA
03/29/2022

Equity Debentures

Equity debentures are securities issued by Vale that pay, in accordance with the terms established therein, semiannual premiums to investors.
Unlike shares, debentures do not represent units of the company's share capital. Here you can access information on the issuance, payment and secondary trading of equity debentures.
Onda

Further information

In April 1997, Vale issued and distributed to its shareholders 388,559,056 non-convertible equity debentures, in the proportion of one debenture per common or preferred share. As of October 28, 2002, these securities began to be traded on the secondary market, through the National Debenture System (SND), managed and operated by CETIP S.A. - Organized Assets and Derivatives Counter.
To find out whether the investor is the holder of equity debentures issued by Vale, it is necessary to look for a branch of Banco Bradesco S.A., with ID, CPF, proof of residence and bank domicile.

Consult the secondary trading prices of the CDRVA6 equity debentures

Fotógrafo: Ricardo Teles

Bradesco Branches (responsible for verification

Submit a copy of your ID Card (RG) or Individual Taxpayer ID (CPF), proof of residence and banking information (bank, account number and branch number) to verify your position and, if necessary, update your registration. In the case of Legal Entities, it is necessary to bring the Articles of Incorporation/Organization and power of attorney for representation. For questions about the operational procedures in the branch network, Banco Bradesco S.A. provides its employees with regulation 05.662 with guidelines on procedures.
Investor Guidance Channel
0800-701-1616
Investor Relations
Foto de placeholder

Additional information on the secondary trading of the debentures, as well as copies of the Prospectus for the Public Trading of Equity Debentures, can be obtained on our website, through GDC Partners Serviços Fiduciários DTVM Ltda., the debentures' fiduciary agent, or from the Brazilian Securities and Exchange Commission (CVM).

Payment date Related period Distributed amount pershareholder debenture
04/01/2022
1H21
R$ 2.882969514
10/01/2021
1H21
R$ 3.201633595
04/01/2021
2H20
R$ 2.762474802
10/01/2020
1H20
R$ 1.271221414
04/01/2020
2H19
R$ 1.302383851
10/01/2019
1H19
R$ 1.013911035
04/02/2019
2H18
R$ 0.982825601
10/02/2018
1H18
R$ 0.671600089
04/03/2018
2H17
R$ 0.689033920
10/02/2017
1H17
R$ 0.581174220
04/03/2017
2H16
R$ 0.620127949
10/03/2016
1H16
R$ 0.422570669
04/01/2016
2H15
R$ 0.329581176
10/01/2015
1H15
R$ 0.264663354​
03/31/2015
2H14
R$ 0.319463652​
10/01/2014
1H14
R$ 0.413654261
04/01/2014
2H13
R$ 0.318470233
10/01/2013
1H13
R$ 0.022900766​
04/02/2013
2H12
R$ 0.033898116​​
10/02/2012
1H12
R$ 0.023391514
04/02/2012
2H11
R$ 0.029336342
10/03/2011
1H11
R$ 0.028242528
04/08/2011
2H10
R$ 0.015466940
04/01/2011
2H10
R$ 0.019122262
10/01/2010
2H10
R$ 0.019122262
04/01/2010
2H09
R$ 0.022283018
10/01/2009
1H09
R$ 0.018609739
04/01/2009
2H08
R$ 0.020278492
10/01/2008
1H08
R$ 0.028621408
04/01/2008
2H07
R$ 0.022239671
03/31/2008
2H05
R$ 0.009204598
03/31/2008
1H05
R$ 0.002977650
10/01/2007
1H07
R$ 0.025455344
04/02/2007
2H06
R$ 0.031087407
10/02/2006
1H06
R$ 0.021564359
04/03/2006
2H05
R$ 0.011557036
10/03/2005
1H05
R$ 0.012456479
04/01/2005
2H04
R$ 0.019005992
-
1H04
-
04/01/2004
2H03
R$ 0.012062780

Non-convertible debentures

Follow information on the issuance of non-convertible debentures carried out by Vale.
Issue Maturity Coupon Principal (R$ million)  Moody's / S&P Rating
2nd series
01/15/2024
IPCA + 6.57% p.a.
150,000
Aaa.br / brAAA
3rd series
01/15/2026
IPCA + 6.71% p.a.
100,000 
Aaa.br / brAAA
4th series
01/15/2029
IPCA + 6.78% p.a.
150,000
Aaa.br / brAAA
Issue Maturity Coupon Principal (R$ million) Moody's / S&P Rating Coordinating Banks
2nd series
08/15/2022
IPCA + 6.6252%
550
Aaa.br / brAAA / AAA (bra)
Banco do Brasil, Bradesco, Itau BBA

Learn more about Equity Debentures

Banco Bradesco S.A., the custodian bank for Vale's shares, sends the shareholder's statement of shareholding position to the shareholder's address, when there is a change in the share position, when dividends / interest on equity are paid and for income tax purposes. Therefore, it is essential that the shareholder keep their address updated in the custodian's records. Also, at any time, shareholders can go to a Bradesco bank branch and request a certificate of their shareholding position in Vale. Shareholders whose custody is carried out by the CBLC - Companhia Brasileira de Liquidação e Custódia - should consult their position in this institution with the brokerage firm through which the investments were made.

The change of registration data can be carried out at any branch of Banco Bradesco. In order to do so, the shareholder must present certified copies of their ID Card (RG), Individual Taxpayer ID (CPF) and proof of residence. Shareholders whose custody is carried out by the CBLC - Companhia Brasileira de Liquidação e Custódia - should contact the brokerage firm through which the investments were made.

In March 2002, the third and final stage of Vale's privatization program was carried out, through the global sale of common shares held by the Federal Government and BNDES - National Bank for Economic and Social Development. On this occasion, the Federal Government allowed retail investors to take part in this stage of Vale's privatization using their deposits from the Severance Pay Indemnity Fund (FGTS) to purchase shares offered through the Mutual Privatization Funds – FMPs. The investors who made investments through FMPs acquired shares in an investment fund and not shares in Vale. The portfolios of Vale's FGTS FMPs, managed by several banks, are composed of various assets, mainly Vale's shares.


Information and certificates of investments in FGTS FMPs must be requested from the banks where such investments were made. Vale does not have access to the position of the quotaholders of each of the FGTS FMPs.


People who used their FGTS deposits acquired shares in FGTS FMPs. The holders of Vale's shares are the FGTS FMPs. Dividends / interest on equity are paid by the company to its shareholders, in this case the FGTS FMPs. The credit of dividends / interest on equity will be reflected in the value of the shares of the FGTS FMPs.


The holder share certificates must be delivered to any branch of Banco Bradesco so that the shares can be updated and converted into registered and book-entry form. At Banco Bradesco, the shareholder must fill out form 1055-3 (provided by the bank itself), attach the originals of the certificates and keep a copy of this form as the protocol. After updating, the shareholder will receive, at the provided address, a "statement" informing their new shareholding position and the amount of dividends/JCP to which they are entitled. This amount will be deposited in the checking account of any bank in the country, as directed by the shareholder.


The person must look for any branch of Banco Bradesco (cost given Vale's shares) and inform their full name and Individual Taxpayer ID (CPF) so that a consultation can be made in the records of Vale's shareholding position.


No, Vale is not a financial institution and, therefore, it does not trade shares and debentures with its investors. To trade any asset or debt security issued by Vale, investors must directly contact a brokerage firm.


Equity debentures represent credit securities issued by the Company in favor of debenture holders, who are entitled to receive a premium paid semiannually, under the terms of their deed, not to be confused with shares, as the latter represent units of the capital stock of a company.


In the context of Vale's privatization process, attempting to guarantee pre-privatization shareholders the right to a stake in any future benefits from the mining deposits of Vale and its subsidiaries, the 6th Issue of Debentures (“Equity Debentures”) was carried out.


On the date of the Extraordinary General Meeting, held on April 18, 1997, Vale's shareholders were entitled to receive the non-convertible equity debentures, in the proportion of one debenture for each share.


The debenture holder's registration data is used, for instance, for the premium payment on Vale's equity debentures. Inconsistent or outdated data prevent the custodian bank from paying.


In accordance with the law, the amounts that have been made available to the debenture holder for more than three (03) years shall revert in favor of the Company. Thus, as of the date of the registration update, the debenture holder will only be entitled to receive premiums referring to the three previous years.


No. The hiring of financial advisory services for this purpose is not mandatory, and the registration update must be requested directly by the debenture holder to Banco Bradesco, the Company's bookkeeping agent, which will inform the procedure to be followed for the update. In general, to request the regularization of registration data, the debenture holder must look for a branch of Banco Bradesco S.A., the bookkeeping agent for Vale's equity debentures, with personal identification documents (RG, CPF and Proof of Residence), as well as a proof of bank domicile. Further guidance can be obtained by calling 0800-701-1616 (Investor Guidance Channel). Alternatively, investors can also contact Vale's Investor Relations department via e-mail at vale.ri@vale.com. There is no charge by Bradesco or Vale for providing information on equity debentures or for updating the registration.


The Investor Relations Department can be contacted via email vale.ri@vale.com or telephone +55 21 3485-3900.


EBIT (Earnings Before Interest and Taxes) is Vale's main operating profit measure. This represents operating profit, that is, it is calculated as profit after operating costs and expenses. Through EBIT, Vale can assess purely operational performance, that is, without the impacts of its financial structure, non-operating items and other tax-related items.


Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) is Vale's main measure of cash generation. This is calculated by adding adjusted EBIT to depreciation, amortization and depletion, non-recurring items (such as asset write-offs) and dividends received from unconsolidated subsidiaries. Asset write-off is not part of the calculation as it represents non-cash expenses. Dividends received from non-consolidated subsidiaries are also included in the EBITDA calculation as they represent cash owned by Vale.


The record date is the day on which all shareholders holding Vale shares (common or preferred) at the close of trading will be entitled to receive interest on equity or dividends.


Ex date is the date on which the shares (common and preferred) are traded without the right to remuneration approved at the meeting of Vale's Board of Directors.


No. Only the shareholders who held Vale shares on the record date established for the second installment of the payment are entitled to receive the remuneration.

Investors should look for a branch of Banco Bradesco, the custodian bank for Vale's shares. Shareholders whose custody is carried out by the CBLC - Companhia Brasileira de Liquidação e Custódia - should contact the brokerage firm through which the investments were made.

No. The shares issued by Vale were not linked to Fund 157 or compulsory loans. Thus, amounts related to the fund cannot be converted or paid into shares issued by Vale. No contact, whether by telephone, e-mail or mail, about the aforementioned fund, shall originate from Vale.