CSN Plans to Raise Up to $1.5 Billion in Loan to Reduce Debt and Improve Liquidity

CSN plans to raise up to $1.5 bln through a loan backed by subsidiary stocks, including cement unit, to pay off maturing bonds and improve its debt profile. A group of banks, including Morgan Stanley, Citigroup, Deutsche Bank, BNP Paribas, and HSBC, are expected to participate in the operation. The plan is to reduce the company's high debt level amid high interest rates.