FINNEWS LATAM-Brazil's Usiminas sells 1 bln reais of debt in private placement

Thu Jan 31, 2013 7:14am EST

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Usinas Sider├║rgicas de Minas Gerais SA, Brazil's largest flat steel producer, sold 1 billion reais ($502 million) of local notes in a private placement, according to a securities filing on Thursday. Proceeds from the sale will be used to repay maturing, more expensive debt and to strengthen the company's cash holdings, the filing added.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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