Vale steel mill gets US$3 billion from BNDES and Korea

Brazil’s Vieira, Rezende, Barbosa e Guerreiro Advogados and Trench, Rossi e Watanabe Advogados (in cooperation with Baker & McKenzie) and the São Paulo office of Allen & Overy LLP have helped a steel mill in the northeastern Brazilian state of Ceará obtain more than US$3 billion in funding from Brazilian development bank BNDES and a Korean-led syndicate of local and international banks, believed to be the largest Korean investment in Brazil ever.

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