Brazil's Usiminas says board approved debt renegotiation deal

jueves 23 de junio de 2016 07:48 GYT

BRASILIA, June 23 (Reuters) - Brazilian steelmaker Usinas Siderurgicas de Minas Gerais SA on Thursday said its board unanimously approved the terms of a debt renegotiation deal with banks and bondholders.

Usiminas added in a statement that state development bank BNDES agreed with the terms of the deal. Usiminas, Brazil's largest listed flat steelmaker, will refinance about 5.4 billion reais ($1.6 billion) in loans and local notes as it seeks to overcome a deep crisis. (Reporting by Silvio Cascione)