RIO DE JANEIRO, Oct. 18 /CNW/ - Companhia Vale do Rio Doce (CVRD) will
pay additional interest to holders of the mandatorily convertible notes
(notes) due June 15, 2010 issued by its wholly-owned subsidiary, Vale Capital
Ltd., in two series, RIO and RIO P.
Under the indentures governing the notes, additional interest due to each
noteholder is an amount in U.S. dollars equal to any cash distribution net of
any applicable withholding tax and fees paid by the Depositary of our ADSs --
each representing one common/preferred CVRD share, RIO/RIOPR -- to the holder
of one ADS, multiplied by the number of ADSs that would be received by the
noteholder upon conversion of the notes at the conversion rate specified in
the applicable indenture (as adjusted for the forward-stock split approved in
August 2007). Therefore, the approval by our Board of Directors of a dividend
distribution to shareholders, as announced today, triggered the payment of
additional interest to noteholders.
The additional interest paid per series RIO note and per series RIO P
note will be equal to an amount in U.S. dollars equivalent to R$ 0.659381778
and R$ 0.782596840, respectively, converted at the actual Brazilian real/US
dollar exchange rate on October 31, 2007.
The additional interest will be paid to noteholders listed on the records
of the trustee as of October 23, 2007 (regular record date). The Bank of New
York, the trustee, will pay the noteholders on November 7, 2007.
For further information:
For further information: Roberto Castello Branco,
email@example.com, or Alessandra Gadelha,
firstname.lastname@example.org, or Patricia Calazans,
email@example.com, or Marcelo Silva Braga,
firstname.lastname@example.org, or Theo Penedo, email@example.com, or
Virginia Monteiro, firstname.lastname@example.org, or Marcus Thieme,
email@example.com, all of CVRD, +011-55-21-3814-4540, Web Site: