Hughes Hubbard Advises Banks in Vale S.A. and Vale Base Metals' $2.0B Credit Facilities

Hughes Hubbard advised a bank group led by Crédit Agricole Corporate and Investment Bank, as Administrative Agent and Sole Global Coordinator, on a $1.5 billion revolving credit facility to Vale S.A. and a Swiss subsidiary, and on a $500 million revolving credit facility to the Vale Base Metals Limited group, a subsidiary of Vale S.A. focusing on the production of base metals essential for the energy transition.

The transactions involved obligors from Brazil, Canada, England and Switzerland and two bank groups totaling over 25 banks from across the globe, and marked Vale Base Metals' inaugural revolving credit facility.

Partner Emilio Saiz led the Hughes Hubbard team, which included associate Santiago Diaz-Seijido, visiting attorney Vitor Barbosa and tax counsel Justin Cohen.