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Usiminas reaches restructuring agreement with debenture holders
By Sheri Kasprzak
New York, June 15 – Usinas Siderurgicas de Minas Gerais SA entered into a restructuring agreement with holders of debentures representing 75% of the company’s total debt being restructured, according to a statement from the company.
The agreement with Banco de Brasil SA, Banco Bradesco SA and Itau Unibanco SA provides 10 years for the payment of the company’s debt, starting on the date of execution of the restructuring documents, and a grace period of three years for the beginning of payment of principal.
Based in Belo Horizonte, Brazil, Usinas Siderurgicas de Mina Gerais is a steel mining company.
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