CSN Wraps up Local Debt

Brazil’s Companhia Siderurgica Nacional (CSN) has finalized the issue of BRL1.57bn ($775m) in domestic bonds, according to Anbima. The 2015 notes amortize in two installments in the final two years, with a BRL1.07bn tranche paying 105.8% of the DI and a BRL500m tranche paying 106.0% of the DI. The steelmaker is raising funds to repay debt. Banco do Brasil managed the sale, done under the rule 476 restricted format.The company could spend at least $2.5bn on ThyssenKrupp’s Brazilian slab plant, according to Barclays capital, if a rumored transaction goes through.