CSN Gets BRL1bn

CSN has borrowed BRL1bn from Caixa Economica Federal through a bank credit transaction known as a CCB. Funds obtained from the 3-year deal under the government-owned bank’s Credito Especial Empresa program will be used for liability management. It obtained BRL2bn through a similar 3-year deal from CEF in August to obtain working capital. The Brazilian steelmaker is currently undergoing a public tender process for the outstanding shares of Portuguese cement maker Cimpor.