Brazil steelmaker Usiminas to restructure debt with banks, bondholders

miércoles 15 de junio de 2016 09:14 GYT
 

SAO PAULO, June 15 (Reuters) - Brazilian steelmaker Usiminas announced on Wednesday plans to restructure about 75 percent of its debt with banks and bondholders, extending maturities over the next 10 years with a three-year grace period to start repaying the principal.

Usinas Siderurgicas de Minas Gerais SA, as the company is formally known, said in a securities filing that the restructuring is tied to a capital injection of 1 billion reais ($287 million). Usiminas said state development bank BNDES is still weighing approval of the debt renegotiation.

($1 = 3.487 Brazilian reais) (Reporting by Brad Haynes and Ana Mano; Editing by Chizu Nomiyama)