Companhia Siderúrgica Nacional (CSN), the Brazilian steel and iron ore producer, received from a pool of banks a bridge loan in the amount of $1.2 billion, destined to support ongoing operations until the sale of its cement production area is concluded.
With a financial debt equivalent to $7.9 billion, the company is focused on the sale of assets as an alternative to reducing the high financial leverage.
President and CEO Benjamim Steinbruch, recently announced that the company is seeking a strategic partner for its steel production division. Analysts interpret this development as an indication that the company does not plan to make significant investments in maintaining its Volta Redonda plant’s steel operations, which currently face challenges such as an idle blast furnace and overall deteriorating conditions.
CSN announced over the weekend that the funds from the loan, which may be increased to $1.4 billion, will be allocated to restructuring its short and medium-term financial obligations.
The pool of banks includes Morgan Stanley, Citigroup, Credit Agricole, HSBC, Banco XP, BNP Paribas, Banco do Brasil, and Bradesco.
CSN has posted net losses for both 2025 and 2024.
