CSN to issue US$170mn in debentures
Bnamericas Published: Monday, December 15, 2003
Companhia Siderurgica Nacional (CSN), Brazil's second largest steelmaker, on Monday unveiled plans to issue 500mn reais (US$170mn) in debentures. In a statement, CSN said its board had approved the proposed bond issue last Thursday (Dec.11). According to CSN, the placement will be used to "reinforce its cash flow." CSN is planning to offer 50,000 non-convertible debentures at 10,000 reais. The offer will be split into two equal batches of 25,000 papers, with one of them maturing in 36 months and the other in 60 months. by Marcio Anaya
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