CSN issues $300 million in notes to refinance debt

Wednesday, 11 November 2020 01:26:48 (GMT+3)   |   Sao Paulo

Brazilian steelmaker Companhia Siderurgica Nacional (CSN) said this week it issued $300 million in debt notes, the proceeds of which the company plans to use to refinance debt.

CSN said CSN Inova Ventures will guarantee the notes due in 2028. The company will pay investors the principal plus interest of 6.75 percent year. CSN expects to liquidate the notes on November 16, 2020.

CSN has been working to cut costs and renegotiate debt with creditors. The company is also disinvesting from non-core assets, with the purpose of improving its financial profile.

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