CSN rolls out eight-year bonds

CSN rolls out eight-year bonds

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Brazil US

Brazilian steel company Companhia Siderúrgica Nacional (CSN) sold $1 billion worth of 2028 notes on Thursday and set aside part of the proceeds to buy back outstanding bonds and refinance other short-term debt, according to sources. CSN priced the eight-year non-call four notes to yield 6.75%, tightening the spread from initial price talk in the low-7% area and guidance in a range from 6.75% to 6.875%, said a source involved in the deal.  The steel company is scheduled to settle the new notes on

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