Brazil’s CSN Resources starts tender offer for 7 5/8% notes due 2023

Chicago, June 2 – Companhia Siderurgica Nacional said subsidiary CSN Resources SA started a tender offer for all of its $925 million of 7 5/8% senior guaranteed notes due 2023 (Cusips: 12644VAB4, L21779AC4), according to a press release.

The notes are guaranteed by the parent.

The company is offering to repurchase the notes for $1,038.13 per $1,000 note. Interest will also be paid to the settlement date.

The offer expires at 5 p.m. ET on June 8, a deadline that includes properly completed and duly executed notices of guaranteed delivery.

Settlement is expected for the third business day following the expiration time.

The tender offer is subject to a new financing condition.

The company may redeem all the notes outstanding after the tender offer, according to a market notice.

D.F. King & Co., Inc. (877 864-5051 or 212 269-5550, csn@dfking.com) is the tender agent and information agent.

Dealer managers for the offer are Banco BTG Pactual SA – Cayman Branch (212 293-4600), Citigroup Global Markets Inc. (800 558-3745), Goldman Sachs & Co. LLC (800 828-3182), Jefferies LLC (888 708-5831), Morgan Stanley & Co. LLC (800 624-1808, 212 761-1057), Banco Safra SA, acting through its Cayman Islands Branch (+55 3175 7594), UBS Securities LLC (888 719-4210, 203 719-4210) and XP Investimentos Corretora de Cambio, Titulos e Valores Mobiliarios SA (646 931-0944).

CSN is a steelmaker based in Sao Paulo.

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