Board of Brazil's Usiminas approves $307 mln capital plan

martes 19 de julio de 2016 16:20 GYT
 

SAO PAULO, July 19 (Reuters) - The board of Usinas Siderúrgicas de Minas Gerais SA on Tuesday unanimously approved a plan to inject 1 billion reais ($307 million) of capital into the company, Brazil's largest listed flat steelmaker.

In a securities filing, Usiminas said shareholders' equity would now stand at 13.2 billion reais. Approval of the capital plan was a precondition for accelerating the refinancing of 7 billion reais in debt with banks and bondholders.

($1 = 3.2578 Brazilian reais) (Reporting by Guillermo Parra-Bernal; Editing by Steve Orlofsky)