By Rebecca Melvin
New York, Feb. 8 – CSN Resources SA priced $350 million of five-year senior notes (expected rating: B3//B-) on Thursday, which will be fully guaranteed by Brazilian steelmaker Companhia Siderurgica Nacional SA, according to a market source.
BofA Merrill Lynch, Banco do Brasil SA, Bradesco Securities and Morgan Stanley were joint bookrunners for the Rule 144A and Regulation S notes.
The proceeds will be used to complete a tender offer for all of the company’s 2019 and 2020 notes
Further details were not immediately available.
CSN is based in Sao Paulo.
| Issuer: | CSN Resources SA
|
| Guarantor: | Companhia Siderurgica Nacional SA
|
| Issue: | Senior notes
|
| Amount: | $350 million
|
| Maturity: | 2023
|
| Bookrunners: | BofA Merrill Lynch, Banco do Brasil SA, Bradesco Securities and Morgan Stanley
|
| Yield: | 7 7/8%
|
| Pricing date: | Feb. 8
|
| Distribution: | Rule 144A and Regulation S
|
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