TORONTO (miningweekly.com) - Brazilian miner Vale has priced a €750-million offering of eight-year notes, the company said on Wednesday.

The notes, due 2018, will bear a coupon of 4.375% a year, payable annually, at a price of 99.564% of the principal amount.

These notes will mature in March 2018 and were priced with a spread of 140 basis points over the benchmark mid-swap rate, resulting in a yield to maturity of 4.441%.

The notes are rated BBB+ by Standard & Poor's Rating Services, Baa2 by Moody's Investor Services, BBB (high) by Dominion Bond Rating Service and BBB by Fitch Ratings.

Vale, which is the world's biggest iron-ore producer and second-largest mining company, has applied to list the notes on the official list of the Luxembourg Stock Exchange.

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