Brazilian steelmaker Companhia Siderurgica Nacional (CSN) has reportedly delayed a deal with creditors Banco do Brasil (BB) and Caixa Economica Federal for this week, according to a media report from Estadao. The deal was initially expected to be concluded last week.
On Monday, CSN told SteelOrbis that it would not comment on any deal discussions.
The two state-run Brazilian banks account for much of CSN’s debt. CSN has about BRL 4.4 billion debt due in 2018, another BRL 3 billion due in 2019 and BRL 3 billion due in 2020. CSN is expected to renegotiate the debt and extend it in the near future.