December 24, 2018 |
CSN and TIM are preparing to issue debentures in the Brazilian market, according to securities filings.
The steelmaker CSN said it plans to sell up to BRL2bn ($512m) in five-year notes, raising money to pay off a loan from the federal savings bank Caixa Econômica Federal.
CSN did not identify the underwriters or give guidance on the pricing.
The Brazilian subsidiary of the Italian telecommunications company TIM said it plans to sell BRL1bn in debentures to reinforce working capital.
Steelmaker looks to raise $512m to pay off a loan, while the Italian telecom's local business aims to get $256m in cash