Brazil's CSN to issue R$750 million five-year notes

By Reshmi Basu

New York, July 28 - Companhia Siderurgica Nacional said it plans to issue up to R$750 million five-year notes in the local capital market.

The proposed bonds will be non-callable.

Interest will be from 3% to 8% above the daily Interbank Deposit rate calculated by CETIP.

Banco Pactual SA will be lead manager for the bond offering with Banco Itaú BBA SA, Banco Santander Brasil SA and BB Banco de Investimentos SA also in the syndicate.

Issuance was approved at the Rio de Janeiro, Brazil steel company's board meeting on July 27.

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