By Rebecca Melvin
Concord, N.H., Feb. 4 – CSN Resources SA, the Luxembourg finance subsidiary of Companhia Siderurgica Nacional, announced it has priced a $500 million offering of 5 7/8% senior unsecured notes due 2032 (expected ratings: Ba2//BB), according to a company news release.
The proceeds of the Rule 144A and Regulation S notes are expected to be used to purchase notes that are tendered in a concurrent tender offer for $300 million of CSN Resources’ outstanding 7 5/8% senior guaranteed notes due 2023 and for general corporate purposes, including liability management transactions.
According to Fitch, the company had planned to offer up to $1 billion of notes.
CSN is a steel producer based in Rio de Janeiro.
| Issuer: | CSN Resources SA
|
| Guarantor: | Companhia Siderurgica Nacional
|
| Amount: | $500 million
|
| Description: | Notes
|
| Maturity: | 2032
|
| Coupon: | 5 7/8%
|
| Pricing date: | Feb. 3
|
| Ratings: | Moody’s: Ba2
|
| Fitch: BB
|
| Distribution: | Rule 144A and Regulation S
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
