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Vale employee smiling in green landscape. She is wearing a green Vale
uniform, goggles, helmet and ear plugs. Visual wave artifact Vale
Photo of three men and a woman talking in an operation area with mountains of dirt and a machine in the background. The four are wearing uniforms, green button-down shirts, white helmets with Vale logo, goggles and ear protection. Photo of three men and a woman talking in an operation area with mountains of dirt and a machine in the background. The four are wearing uniforms, green button-down shirts, white helmets with Vale logo, goggles and ear protection.
Photo of a woman in an operation area leaning against iron grid, holding and talking on a radio. She is wearing a uniform, a light green Vale shirt, gloves, ear protection, a mask, a helmet with Vale logo and goggles.
Photographer: Ricardo Teles
Photo of a woman in an operation area leaning against iron grid, holding and talking on a radio. She is wearing a uniform, a light green Vale shirt, gloves, ear protection, a mask, a helmet with Vale logo and goggles.
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.
Photo of a man and a woman talking and walking in a land area in the operation. The woman is wearing a blue shirt with fluorescent lines, jeans, boots, a mask, goggles and a helmet. The man is wearing a green button-down Vale shirt, a green vest with fluorescent lines, jeans, boots, a helmet, goggles, a mask and has a radio fixed to his waist.
Onda
icon illustration of personal

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.
Photo of two women talking and pointing to a big paper, and in the background, an area with construction works with tents, earth, cement and people working. One of the women is wearing a green Vale button-down shirt, an orange vest, goggles, a mask and a helmet. The other woman is wearing a blue shirt with fluorescent lines, a mask, goggles and a helmet.
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Consult the secondary trading prices of the CVRDA6 equity debentures

Photo of a man walking down iron stairs. He is wearing Vale uniform, green button-down shirt, pants, boots, ear protection, a helmet, gloves, a mask and goggles. Photo of a man walking down iron stairs. He is wearing Vale uniform, green button-down shirt, pants, boots, ear protection, a helmet, gloves, a mask and goggles.

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
Photo of a woman smiling in an office in front of a monitor. She has wavy hair, wears pearl earrings and a light green polo shirt with Vale logo.

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).

Non-convertible debentures

Follow information on the issuance of non-convertible debentures carried out by Vale.
Photo of a woman in an operation area leaning against iron grid, holding and talking on a radio. She is wearing a uniform, a light green Vale shirt, gloves, ear protection, a mask, a helmet with Vale logo and goggles.
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
See below the history with information on the payments of dividends and interest on equity made from 1999 to 2021.
Reference Fiscal Year Release Date Installment Payment Date Dividends Type Total
                    
                    
                    
             
 R$ per share
  R$ per share
            
R$ / US$ million
2022
07/28/2022
 
#1 installment ​
09/01/2022
1.539376229
0.284311508
JCP
R$ 7,000.0
2022
07/28/2022
#1 installment ​
09/01/2022
2.032680337
0.375421162
Dividends
R$ 9,243.2
2022
02/24/2022
#1 installment ​
03/16/2022
3,719256588
N/A
Dividends
US$ 3,5 billions
2021
09/16/2021
#1 installment ​
09/30/2021
8,197
N/A
Dividends  
R$ 40,200
2021
06/23/2021
Extraordinary 
06/30/2021
0,720
N/A
Dividends
R$ 3,634
2020
06/23/2021
Extraordinary ​
06/30/2021
1,469
N/A
Dividends
R$ 7,411
2020
02/25/2021
#2 installment ​
03/15/2021
3.425910336
N/A
Dividends
R$ 17,577
2020
02/25/2021
​​#2 installment​
03/15/2021
0.835736883
N/A
JCP
R$ 4,288
2020
09/10/2020
#1 installment
09/30/2020
1,414
N/A
Dividends
R$ 7,234
2020
09/10/2020  
​​#1 installment
09/30/2020
0.997
N/A
JCP
R$ 5,116
2019
12/19/2019
​​#1 installment 
08/07/2020
1.410
N/A
JCP
R$ 7,253
2018
07/25/2018
#1 installment​​​ ​
09/20/2018
1.308
N/A
IOC
R$ 6,801
2018
07/25/2018
#1 installment ​
09/20/2018
0.171
N/A
dividends
R$ 893
2017
02/27/2018
#2 installment
03/15/2018
0.489
N/A
IOC
R$ 2,539
2017
12/14/2017
#1 installment
03/15/2018
0.420
N/A
IOC
R$ 2,182
2016
04/20/2017
#2 installment
04/28/2017
0.905
N/A
IOC
R$ 4,667
2016
11/28/2016
#1 installment
12/16/2016
0.166
0.048
IOC
R$ 856
2015
10/15/201​5
​​#2 installment​ ​
​10/30/2015
0.373
0.097
dividends
R$ 1,925 ​
2015
04/14/2015
#1 installment​
04/30/2015
0.602
0.194
IOC
R$ 3,101
Total
                
                
                 
0.975
0.291
          
              
2014
10/16/2014
​#2 installment​
10/31/2014
0.650
0.267
IOC
​US$ 4,200​
2014
​10/16/2014
​#2 installment​
​10/31/2014
0.340
​0.139
​dividends​
US$ 4,200​
2014
04/14/2014
#1 installment​
​04/30/2014
0.899
0.407
​IOC
​US$ 4,200​
Total
              
                      
           
1.889
0.813
          
             
​2013 ​
04/16/2013
#1 installment​
04/30/2013​
0.710​
0.359​
IOC
US$ 4,500​
​2013 ​
04/16/2013
#1 installment​
04/30/2013​
0.154​
0.078​
dividends
US$ 4,500​
2013 ​
10/17/2013
#2 installment
10/31/2013
0.824
​0.381
​IOC
US$ 4,500​
​2013 
10/17/2013
​#2 installment
10/31/2013
​0.121
0.056
dividends
US$ 4,500​
Total
              
             
              
1.809
0.874
            
             
2012
04/13/2012
#1 installment
04/30/2012
1.075
0.588
IOC
US$ 6,000
2012
10/16/2012
#2 installment
10/31/2012
0.525
0.258
IOC
US$ 6,000
2012
10/16/2012
#2 installment
10/31/2012
0.660
0.324
dividends
US$ 6,000
Total
          
               
            
2.260
1.170
               
           
2011
01/14/2011
Extraordinary
01/31/2011
0.320
0.191
IOC
US$ 9,000
2011
04/13/2011
#1 installment
04/29/2011
0.608
0.383
IOC
US$ 9,000
2011
08/11/2011
Additional
08/26/2011
0.933
0.576
dividends
US$ 9,000
2011
10/14/2011
#2 installment
10/31/2011
0.634
0.361
IOC
US$ 9,000
2011
10/14/2011
#2 installment
10/31/2011
0.048
0.027
dividends
US$ 9,000
2011
10/14/2011
Additional
10/31/2011
0.341
0.195
dividends
US$ 9,000
Total
           
               
             
2.885
1.735
         
       
Reference Fiscal Year ReleaseDate Installment Payment Date Dividends Type Total
R$ per share
US$ per share
R$ / US$ million
2010
04/14/2010
#1 installment
04/30/2010
0.421
0.239
IOC
US$ 3,000
2010
10/14/2010
#2 installment
10/29/2010
0.396
0.239
IOC
US$ 3,000
2010
10/14/2010
Additional
10/29/2010
0.158
0.095
IOC
US$ 3,000
Total
0.975
0.573
2009
04/16/2009
#1 installment
04/30/2009
0.524
0.239
dividends
US$ 2,750
2009
10/15/2009
#2 installment
10/31/2009
0.400
0.239
IOC
US$ 2,750
2009
10/15/2009
Additional
10/31/2009
0.090
0.050
IOC
US$ 2,750
Total
1.014
0.528
2008
04/10/2008
#1 installment
04/30/2008
0.238
0.141
IOC
US$ 2,850
2008
04/10/2008
#1 installment
04/30/2008
0.199
0.118
dividends
US$ 2,850
2008
10/16/2008
#2 installment
10/31/2008
0.402
0.187
IOC
US$ 2,850
2008
10/16/2008
#2 installment
​ 10/31/2008
0.108
0.050
dividends
US$ 2,850
2008
10/16/2008
Additional
10/31/2008
0.113
0.052
IOC
US$ 2,850
2008
10/16/2008
Additional
10/31/2008
0.030
0.014
dividends  
US$ 2,850
Total
1.090
0.562
2007
04/16/2007
#1 installment
04/30/2007
0.257
0.127
IOC
US$ 1,875
2007
04/16/2007
#1 installment
04/30/2007
0.433
0.214
dividends
US$ 1,875
2007
18/10/2007
#2 installment
10/31/2007
0.309
0.170
IOC
US$ 1,875
2007
18/10/2007
#2 installment
10/31/2007
US$ 1,875
2007
18/10/2007
Additional
10/31/2007
0.072
0.039
IOC
US$ 1,875
2007
18/10/2007
Additional
10/31/2007
0.012
0.006
dividends
US$ 1,875
Total
 
0.740
0.388
2006
04/12/2006
#1 installment
04/28/2006
0.666
0.311
IOC
US$ 1,300
2006
04/12/2006
#1 installment
04/28/2006
0.479
0.224
dividends
US$ 1,300
2006
10/19/2006
#2 installment
10/31/2006
0.559
0.262
IOC
US$ 1,300
2006
10/19/2006
#2 installment
10/31/2006
0.015
0.007
dividends
US$ 1,300
Total
1.147
0.536
2005
04/14/2005
#1 installment
04/29/2005
1.11
0.44
IOC
US$ 1,300
2005
10/14/2005
#2 installment
10/31/2005
0.68
0.30
IOC
US$ 1,300
2005
10/14/2005
#2 installment
10/31/2005
0.30
0.13
dividends
US$ 1,300
2005
10/14/2005
Additional
10/31/2005
0.59
0.26
dividends
US$ 1,300
Total
2.68
1.13
2004
04/14/2004
#1 installment
04/30/2004
2.06
0.715
IOC
US$ 787
2004
10/13/2004
#2 installment
10/29/2004
0.67
0.24
IOC
US$ 787
2004
10/13/2004
Additional
10/29/2004
0.36
0.13
IOC
US$ 787
2004
10/13/2004
Additional
10/29/2004
0.24
0.08
dividends
US$ 787
Total
 
 
1.96
0.69

 
 
2003
04/16/2003
#1 installment
04/30/2003
1.62
0.52
IOC
US$ 675
2003
08/27/2003
Additional
10/31/2003
1.94
0.65
IOC
US$ 675
2003
10/15/2003
#2 installment
10/31/2003
1.48
0.52
IOC
US$ 675
Total
 
5.04
1.69
2002
11/13/2002
12/10/2002
2.68
0.84
IOC
US$ 602
Total
2.68
0.84
2001
11/22/2001
12/10/2001
2.31
0.98
IOC
​US$ 1,066
2001
11/22/2001
04/30/2002
2.31
0.98
IOC
​US$ 1,066
Total
4.61
1.96
2000
12/30/2000
 
02/20/2001
3.33
1.70
IOC
US$ 246
Total
 
3.33
1.70
1999
08/04/1999
08/20/1999
1.11
0.66
​ IOC
US$ 452
1999
12/28/1999
 
03/31/2000
1.17
0.62
IOC
US$ 452
Total
2.28
1.28

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.

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.


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.


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.


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