Brazilian steelmaker Companhia Siderurgica Nacional (CSN) said this week it plans to sell a combined $1 billion in bonds due in 2026 and 2023 to repurchase a short-term debt of the same value.
CSN, through its US subsidiary, CSN Resources, will sell two separate bonds. The first is worth $600 million and is due in 2026. It will pay investors a 7.62 percent annual interest.
Additionally, CSN will sell bonds of about $400 million due in 2023, which will pay investors a 7.62 percent interest rate per year.
CSN said it will use the cash to repurchase about $1 billion in debts due this and next year.