GlobeNewswire·Aug 11, 2026, 8:31 AM ET

Announcement of Final Results of Private Exchange Offer for CSN Inova Ventures’ Outstanding 6.750% Senior Notes due 2028 and Consent Solicitation

SID

CSN subsidiary CSN Inova Ventures announced the successful conclusion of its Exchange Offer for 2028 Notes, satisfying the Minimum Participation Condition with 77.49% of outstanding notes tendered.
A total principal amount of US$1,007,324,000 in 6.750% Senior Notes due 2028 was validly tendered & not withdrawn prior to the August 10, 2026 expiration time.
Settlement is scheduled for August 12, 2026, where eligible holders will receive an exchange consideration of US$253.85 in cash plus US$746.15 in aggregate principal of 11.000% Senior Notes due 2030 for every US$1,000 of old notes accepted.
The Issuer expects to issue approximately US$698.3 million in new notes & pay approximately US$255.7 million in cash consideration, excluding accrued interest & fractional note payments.
Accrued & unpaid interest on exchanged notes will be paid separately & interest will cease to accrue on the 2028 Notes as of the settlement date.
The Issuer solicited & received requisite consents from holders to amend the indenture governing the 2028 Notes, a requirement for participation in the offer.
The offer was conducted solely for qualified institutional buyers in the U.S. & non-U.S. persons offshore in reliance on Rule 144A & Regulation S.
No cash proceeds will be received by the Issuer from the Exchange Offer, & the transaction does not involve new capital raising.
D.F. King & Co., Inc. served as the Information & Exchange Agent, while multiple global banks including Banco Bradesco BBI S.A. & Citigroup acted as dealer managers.