Brazilian steelmaker Companhia Siderurgica Nacional (CSN) may close a deal with creditors, mainly banks, as soon as the first week of January, a media report from Estadao said.
CSN, which is said to be in talks with creditors Banco do Brasil and Caixa Economica Federal, the nation’s two main state-run banks, may close the deal by January 5, according to the media report. CSN could renegotiate some BRL 14 billion ($4.2 billion) in debt.
CSN is also said to be seeking a $1 billion capital injection to extend $2 billion debt in bonds due in 2019 and 2020. It is not clear, however, the nature of the transaction, if it means it may secure a loan or issue new bonds.