Pursuant to Rule 13a-16 or 15d-16 of the
Rio de Janeiro, RJ
Federative Republic of Brazil
under cover Form 20-F or Form 40-F. Form 20-F ___X___ Form 40-F _______
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes _______ No ___X____
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For immediate release |
For More Information Contact:
Luciana Paulo
Ferreira
CSN – Investor Relations – 5511 3049-7591
luferreira@csn.com.br www.csn.com.br
CSN ISSUES R$ 400 MILLION IN DEBENTURES IN THE DOMESTIC MARKET
(São Paulo, Brazil – December 5th, 2003) -- Companhia Siderúrgica Nacional (CSN) (NYSE-SID) informs that it has issued R$ 400 million in debentures. The operation was rated A+ (bra) – FITCH, brA – S&P and A3.br – Moody’s. The three-year transaction will bear 107% of CDI (Brazilian Interbank Rate). The proceeds will be used to provide CSN with a liquidity cushion and refinance CSN and/or its subsidiaries’ future financial liabilities.
About this transaction, Otávio Lazcano, CSN’s CFO, commented: “The demand for the paper, three times bigger than the offer, not only reflects local investors’ perception about CSN’s credit condition status, but it also allows CSN to extend its debt average maturity. The final cost of the transaction was below the yield of CSN’s papers in the secondary international market, even before fiscal effects.”
This operation marks the reopening of the Brazilian debentures market, as for over a year no private issued was placed only with institutional investors. With this issue, not only does CSN contribute to extend its indebtedness profile, but also favours domestic investors and reduces its exposure to foreign exchange variation.
Banco Pactual S.A. and BB Banco de Investimento S.A. were the lead managers in this operation. Banco Safra S.A. and Banco Fibra S.A. acted as co-managers.
Companhia Siderúrgica Nacional, located in the state of Rio de Janeiro, Brazil, is a steel complex integrated by investments in infrastructure and logistics, that combines in its operation captive mines, an integrated steel mill, service centers, ports and railways. With a total annual production capacity of 5,800,000 tonnes of crude steel and gross revenues of R$ 5.2 billion reported in 2002, CSN is also the only tin-plate producer in Brazil and one of the five largest tin-plate producers worldwide.
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COMPANHIA SIDERÚRGICA NACIONAL
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| By: |
/S/
Otavio de Garcia Lazcano
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Otavio de Garcia Lazcano
Principal Financial Officer
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