Brazil's CSN obtains US$375mn credit facility to buy equipment from Italian firms
Brazilian steelmaker CSN has secured a credit facility worth US$375mn with Italian export credit agency SACE as part of the expansion plan for mining arm CSN Mineração.
The funds will be used to buy equipment from Italian firms, a company spokesperson confirmed to BNamericas.
The credit facility involves a pool of banks led by BNP Paribas, with Crédit Agricole, Natixis Corporate & Investment Banking and Société Générale Milan Branch.
SACE will now organize business meetings between CSN and export-focused SMEs in Italy.
CSN Mineração is embarked on an aggressive expansion plan with the goal of boosting annual production from 37Mt to 69Mt in 2026. The goal for the second expansion phase is to increase output to 116Mt in 2032.
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