trending Market Intelligence /marketintelligence/en/news-insights/trending/n0vYQoX4Uxl-z92mNWp4VA2 content esgSubNav
In This List

Brazilian steel, iron ore producer CSN commences tender offer for 2020 notes

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends

Blog

Copper project pipeline — Project shortage to see supply lag demand post-2025

Blog

Green energy revolution — Boost for industrial metals demand


Brazilian steel, iron ore producer CSN commences tender offer for 2020 notes

Cia. Siderúrgica Nacional initiated a cash tender offer for its outstanding 6.50% senior unsecured guaranteed notes due 2020, with US$433.6 million in principal outstanding.

The offer is priced at US$1,020 per US$1,000 in principal and expires Jan. 24 with settlement anticipated within five business days thereafter, the company said in a Jan. 17 statement.

The steel and iron ore producer cut its full-year 2019 guidance for adjusted EBITDA to 7.5 billion Brazilian reais in October 2019, down from previous guidance of 8.5 billion reais.

As of Jan. 16, US$1 was equivalent to 4.18 Brazilian reais.