Samarco to Meet Buyside

Samarco Mineracao plans to meet bond investors in US and Europe this week. The BBB/BBB rated privately-held Brazilian miner plans to visit accounts beginning in Los Angeles and London on Wednesday and in Boston and New York Thursday. A 144A/RegS benchmark 10-year transaction may follow, subject to market conditions. Proceeds will be used to address a new capex program with the rest for general corporate purposes. Citi, HSBC and JPMorgan are managing. Samarco is 50% owned by BHP Billiton and 50% by Vale and is one of the world’s largest seaborne exporters of iron ore pellets. It is a familiar name to the loan markets, most recently having raised a $450m 11-year term loan in a club deal closed earlier this month.