CSN Mineração, the iron ore business of Companhia Siderurgica Nacional (CSN), which went public this year, expects to issue BRL 1 billion ($196.8 million) in unsecured bonds to fund a terminal expansion, the company said in a document filing late this week.
CSN Mineração said it will issue 1 million bonds of BRL 1,000 each ($196.96) in up to two bond issuance series.
The bonds were issued on July 15, 2021, and the due date of the first series of bonds issued will be 10 years, while the due date of the second series of bonds is 15 years from the issuance date.
CSN Mineração said it will use the proceeds of the bonds to pay for short-term debt and to expand its Tecar iron ore terminal at the Brazilian Port of Itaguai, which has a 45 million mt/year capacity to handle iron ore shipments.