Announcement of Expiration of Tender Offer for Any and All 2026 Notes by CSN Resources S.A.

Rhea-AI Summary

Companhia Siderúrgica Nacional (CSN) (NYSE: SID) announced the completion of the cash tender offer for its outstanding 7.625% Senior Unsecured Guaranteed Notes due 2026. Valid tenders were received for US$117,021,000, and CSN Resources expects to accept and make payment for all validly tendered Notes at or prior to the Expiration Time on December 8, 2023. Holders of Notes who validly tendered their Notes are eligible to receive US$1,010 per US$1,000 principal amount of Notes, plus accrued and unpaid interest.

SAO PAULO, Dec. 5, 2023 /PRNewswire/ -- Companhia Siderúrgica Nacional ("CSN") (NYSE: SID) announced today that the cash tender offer (the "Tender Offer") by its subsidiary, CSN Resources S.A. ("CSN Resources"), for any and all of its outstanding US$300,000,000 in aggregate principal amount of 7.625% Senior Unsecured Guaranteed Notes due 2026 (the "Notes") (144A CUSIP / ISIN: 12644VAC2 / US12644VAC28 and Regulation S CUSIP / ISIN: L21779AD2 / USL21779AD28), fully, unconditionally and irrevocably guaranteed by CSN, expired today at 5:00 p.m., New York City time (the "Expiration Time"). At the Expiration Time, valid tenders had been received with respect to US$117,021,000 in aggregate principal amount of Notes.

CSN Resources expects to accept and make payment for all validly tendered Notes at or prior to the Expiration Time on December 8, 2023.

Holders of Notes who validly tendered their Notes at or prior to the Expiration Time are eligible to receive US$1,010 per US$1,000 principal amount of Notes. In addition, accrued and unpaid interest from the last interest payment date to, but not including, the settlement date for the Notes will be paid in cash on all validly tendered and accepted Notes.

Disclaimer 

This press release is for informational purposes only and does not constitute an offer to purchase or the solicitation of an offer to sell any securities.

This press release may contain forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, including those related to the Tender Offer. Forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and, accordingly, such results may differ from those expressed in any forward-looking statements.

COMPANHIA SIDERÚRGICA NACIONAL
Marcelo Cunha Ribeiro
Chief Financial and Investor Relations Officer

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SOURCE Companhia Siderúrgica Nacional

FAQ

What did Companhia Siderúrgica Nacional (CSN) announce?

CSN announced the completion of the cash tender offer for its outstanding 7.625% Senior Unsecured Guaranteed Notes due 2026.

How much was received in valid tenders for the Notes?

Valid tenders were received for US$117,021,000.

What is the expected payment per US$1,000 principal amount of Notes for holders who validly tendered their Notes?

Holders are eligible to receive US$1,010.

What additional payment will holders receive for validly tendered and accepted Notes?

Accrued and unpaid interest from the last interest payment date to, but not including, the settlement date for the Notes will be paid in cash.

What is the ticker symbol for Companhia Siderúrgica Nacional on the NYSE?

The ticker symbol for Companhia Siderúrgica Nacional is SID on the NYSE.