Brazilian flats steelmaker Usiminas announced this week it has fully paid bonds due in January 2018. The payment signals the market Usiminas’ improved financial performance, following a debt restructuring.
Usiminas said it paid $400 million in bonds issued in 2008 by its subsidiary Usiminas Commercial Ltd.
The company explained that out of the $400 million bond value, about $220 million “returned to the company as cash, due to the repurchase transaction of some of the notes made in 2013.”