Vale (VALE) is considering raising as much as 3.5 billion yuan ($522 million) through its debut panda bond issuance in China, Bloomberg reported Wednesday.

The miner plans to hold roadshows the week of Oct. 19 and could market the yuan-denominated bonds as early as November, with three, five or 10 year maturities depending on investor feedback, according to the report.

The bonds would be issued by Vale Overseas and guaranteed by Vale, Bloomberg added.

Vale shares were up over 2% in premarket activity.

Vale did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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