CSN subsidiary launches tender offer for up to $300M of 2026 notes

CSN Resources SA launched a cash tender offer for up to $300 million in aggregate principal of its outstanding $600 million in 7.625% senior unsecured guaranteed notes due 2026. The company is a Luxembourg-based subsidiary of Brazil-based steelmaker Cia. Siderúrgica Nacional.

CSN Resources offered to pay $1,048.75 for each $1,000 worth of notes validly tendered and not withdrawn prior to the Feb. 16 early tender date, according to a Feb. 3 statement. Noteholders will receive $1,018.75 for each $1,000 worth of notes tendered after the early tender date but before the March 3 expiration date.

Banco BTG Pactual SA–Cayman Branch, BNP Paribas Securities Corp., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC and UBS Securities LLC are acting as the dealer managers of the offer.