CSN’s $200 Million Notes Reopening

February 13, 2024

Cleary Gottlieb represented BofA Securities, Bradesco BBI, BTG Pactual, Credit Agricole CIB, Itau BBA, Morgan Stanley, Santander, and UBS Investment Bank, as initial purchasers, in the reopening of $200 million 8.875% notes due 2030, issued by CSN Resources S.A., a Luxembourg subsidiary of Companhia Siderúrgica Nacional (CSN), and guaranteed by CSN.

The transaction priced on February 8, 2024, and closed on February 13, 2024. CSN intends to use the net proceeds from the sale of the notes to repay certain indebtedness and for general corporate purposes.

CSN is one of the largest steel producers in Latin America, with business operations in the steel, mining, cement, logistics, and energy segments.