Brazilian steelmaker Cia. Siderúrgica Nacional's subsidiary CSN Resources SA closed its previously announced note buyback, according to a Feb. 15 release.

CSN received tenders for its 6.875% senior unsecured guaranteed notes due 2019 worth approximately US$202.8 million, while for the 6.50% senior unsecured guaranteed notes due 2020 the company received tenders worth approximately US$512.7 million.

Merrill Lynch, Pierce, Fenner & Smith Inc., BB Securities Ltd., Banco Bradesco BBI SA and Morgan Stanley & Co. LLC acted as the dealer managers for the tender offerings.

The company is also looking to reduce its debt by selling off certain assets and is currently engaged in debt restructuring talks with Caixa Econômica Federal.