Brazil’s CSN Resources offers cash in capped offer for 7 5/8% notes

Chicago, Feb. 3 – Companhia Siderurgica Nacional announced a tender offer for up to $300 million of subsidiary CSN Resources SA’s $600 million outstanding 7 5/8% senior guaranteed notes due 2026 (Cusips: 12644VAC2, L21779AD2), according to a press release.

CSN is offering a total consideration of $1,048.75 per $1,000 note, inclusive of a $30 early tender premium that will only be paid to noteholders who tender by the early deadline.

Accrued interest will also be paid.

The early tender date is 5 p.m. ET on Feb. 16.

The tender offer will expire at 11:59 p.m. ET on March 3.

The offer is subject to the completion of a new debt financing.

D.F. King & Co., Inc is the information and tender agent for the offer (800 967-7510, 212 269-5550, csn@dfking.com).

Banco BTG Pactual SA – Cayman Branch (212 293-4600), BNP Paribas Securities Corp. (888 210-4358, 212 841-3059), Citigroup Global Markets Inc. (800 558-3745, 212 723-6106), Goldman Sachs & Co. LLC (800 828-3182, 212 357-1452), Morgan Stanley & Co. LLC (800 624-1808, 212 761-1057) and UBS Securities LLC (888 719-4210, 203 719-4210) are the dealer managers.

CSN is a steelmaker based in Sao Paulo.

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