CSN reaches debt extension deal with Brazilian bank, moves to improve liquidity

Brazilian steel and iron ore producer CSN has signed a long-awaited deal with local state-controlled bank Banco do Brasil to roll over the maturity of its debt, it said on Thursday February 1.

The company is also negotiating a similar debt extension agreement with state-owned bank Caixa Econômica Federal, which has already been “positively evaluated” by the bank’s executive board, CSN added.
The amount of CSN’s debt held by the two banks, which is under negotiation, is estimated at about 14 billion Reais ($4.40 billion), or around 49% of its consolidated debt.

According to CSN’s latest financial statements, in the third quarter of 2017...

Published

Felipe Peroni

February 01, 2018

18:25 GMT

São Paulo