Brazil's CSN starts roadshow for expected $750 million 10-year notes

By Paul A. Harris

St. Louis, Sept. 8 - Brazilian steel firm Companhia Siderurgica Nacional started a roadshow on Tuesday in London for an expected $750 million offering of 10-year senior notes (Ba1/BB+/BBB-), according to a market source.

Although there is no official price talk, the notes are expected to print with a yield of between 7% and 7½%, the source added.

Roadshow presentations will continue on Wednesday in London, on Thursday in New York, on Friday in Boston and on Monday in Los Angeles.

Morgan Stanley and Banco Itau are joint bookrunners.

Pricing is subject to market conditions.

The company is based is Sao Paulo.

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