January 31, 2013 / 12:15 PM / 5 years ago

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

Usinas Siderúrgicas 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.

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