Steelmaker CSN reports early results for subsidiary's $300M tender offer

Brazilian steelmaker Cia. Siderúrgica Nacional, or CSN, said that as of Feb. 16, tenders for a previously announced $300 million cash tender offer exceeded the maximum amount. The tender offer was launched by CSN subsidiary CSN Resources SA.

CSN Resources will no longer accept for purchase any notes tendered after Feb. 16, according to a Feb. 17 SEC filing.

Earlier in February, CSN Resources priced a $500 million offering to raise proceeds that will be used to purchase the notes tendered in the $300 million offer.