White & Case Advises on US$3 Billion Financing for Vale

Miami, New York, April 13, 2011 ... Global law firm White & Case LLP advised the lead lenders representing a syndicate of 27 global commercial banks in a five-year US$3 billion senior revolving export credit facility for Vale SA, the world's second-largest mining company, and its Swiss and Canadian subsidiaries. The Firm acted for Natixis, as administrative agent, and Crédit Agricole Corporate and Investment Bank, JPMorgan Securities LLC, Mizuho Corporate Bank, Ltd. and Natixis, as lead lenders.

"The large number of banks and multiple borrower jurisdictions in the United States, Canada, Brazil and Switzerland represented a first for Vale and could have involved significant challenges," said Carlos Viana, White & Case partner in Miami. "However, the lead banks, Vale and their experienced international counsel ran a tight ship, resulting in flexible terms for Vale, a successful syndication with major oversubscription and an overall smooth execution."

The White & Case team was led by partner Carlos Viana, with assistance from counsel Victor Mendoza and associate Thomas Pate in Miami and partner Ray Simon and associate Isaac Tendler in New York.

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