Usiminas sets up next debt sale

Usiminas sets up next debt sale

Debenture Debt Fixed Income Capital Markets Rule 476 Brazil

Brazilian steelmaker Usiminas said it intends to raise up to BRL1.5 billion ($291 million) in a three-part debenture sale in the local market next month, according to securities filings. Usiminas plans to issue at least BRL1.3 billion in a restricted offering under Rule 476, but it could increase the size of the deal to meet demand, it said in a filing on Tuesday. It added that it plans to use the proceeds to redeem debentures that mature in September 2025. The Belo Horizonte-based steel company

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