Brazil’s CSN Secures $1.2 Billion Loan Deal With Banks
The CSN steel plant in Volta Redonda, Rio de Janeiro state, Brazil.
Photographer: Dado Galdieri/BloombergBrazilian conglomerate CSN said a group of banks agreed to extend the company a $1.2 billion loan, easing concerns about its ability to meet near-term debt payments.
The credit line is expected to be secured in part by certain assets designated for sale, according to a regulatory filing. The loan can also be increased to $1.4 billion.