Companhia Vale do Rio Doce (CVRD), Brazil's largest mining company, is looking to establish a secured export note (SEN) program, which will resemble Petroleos Mexicanos' (Pemex) mammoth $6 billion SEN program, banking sources said recently.

Before it does, however, it is likely to introduce itself to asset backed investors via reactivated plans for a seven-year transaction, expected to total no less than $300 million and scheduled for launch early in the first quarter next year.

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