Brazil’s CSN Resources accepts tenders for $117.02 million of 7 5/8% notes

By Mary-Katherine Stinson

Lexington, Ky., Dec. 6 – Companhia Siderurgica Nacional said subsidiary CSN Resources SA reported the results of the tender offer for all $300 million of its 7 5/8% senior guaranteed notes due 2026 (Cusips: 12644VAC2, L21779AD2), according to a 6-K filing with the Securities and Exchange Commission.

The company has received and will accept tenders for $117,021,000 in aggregate principal amount of the notes.

As previously reported, the company will repurchase the notes for $1,010 per $1,000 note. Interest will also be paid to the settlement date.

The offer expired at 5 p.m. ET on Dec. 5, a deadline that included properly completed and duly executed notices of guaranteed delivery.

Settlement is expected for Dec. 8, the third business day following the expiration time.

The tender offer was subject to a new financing condition.

The company reserves the right to repurchase any notes that remain outstanding after the offer via open market purchases, privately negotiated transactions, tender offers, exchange offers or otherwise.

The notes are guaranteed by the parent.

D.F. King & Co., Inc. (800 967-7574, 212 269-5550, csn@dfking.com, www.dfking.com/csn) is the tender agent and information agent.

Dealer managers for the offer are Banco Bradesco BBI SA (+55 11 2169 4528), Banco BTG Pactual SA – Cayman Branch (212 293-4600), Citigroup Global Markets Inc. (212 723-6106, 800 558-3745), Credit Agricole Securities (USA) Inc. (866 807-6030), J.P. Morgan Securities LLC (212 834-7279, 866 846-2874), Morgan Stanley & Co. LLC (800 624-1808, 212 761-1057), Santander US Capital Markets LLC (212 407-0930) and UBS Securities LLC (212 882-5723).

CSN is a steelmaker based in Sao Paulo.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.