CSN increases buyback after bond sale

CSN increases buyback after bond sale

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Brazil

Brazil's CSN said it has increased the size of a planned bond buyback to $1bn after issuing new notes in the international market on Wednesday. The steelmaker previously planned to buy back up to $750m in outstanding notes, including all of its 6.875% 2019s and a portion of its 6.5% 2020s. The company has $547m in outstanding 2019 notes and $1.1bn in 2020s. The early deadline for the buyback is April 18 and the final deadline is May 3. CSN issued new bonds to fund the buyback, selling $600m i

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