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CSN purchases US$147.1M in 2020 notes

Cia. Siderúrgica Nacional, or CSN, said March 2 that its CSN Resources S.A. unit accepted for purchase US$147.1 million of its 6.50% senior unsecured guaranteed notes due 2020 following the expiration of tender offers March 1.

The Brazilian steelmaker received tenders worth approximately US$521.2 million for the 2020 notes, while it previously accepted for purchase US$202.8 million in 6.875% senior unsecured guaranteed notes due 2019.

The company recently completed an offering of US$350 million in aggregate principal amount of 7.625% senior unsecured notes due 2023 and is in talks for a potential asset sale and a refinancing deal with its two largest creditors.