CSN seeks banks for local debt sale

CSN seeks banks for local debt sale

Debenture Debt Brazil Rule 476

Brazilian steelmaker Companhia Siderúrgica Nacional (CSN) said Wednesday that it is hiring banks to lead the sale of BRL1.5 billion ($271 million) worth of debentures in the local market. CSN plans to issue the new seven-year notes in a restricted offering on November 10, raising money to meet working capital needs and cover general corporate purposes, it said in a securities filing. It expects to price the 2028 debentures at the DI interbank lending rate plus 1.65%. In December 2018, when CSN s

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