April 12, 2019 |
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
Brazilian steelmaker now looks to repurchase up to $1bn in 2019 and 2020 notes