Material Fact – 7th Issue of Debentures

Material Fact
7th Issue of Debentures

São Paulo, March 28, 2014 – COMPANHIA SIDERÚRGICA NACIONAL (“Company”), in compliance with Article 157, Paragraph 4 of Law 6404/76 and Instruction 358/02 issued by the Securities and Exchange Commission of Brazil (“CVM”), hereby informs its shareholders and the market that its Board of Directors approved 7th (seventh) public issue of non-convertible unsecured debentures in a single series (“Debentures”), for public distribution with restricted placement efforts, in accordance with CVM Instruction 476 of January 16, 2009 (“Restricted Offering”). The transaction comprises the issuance of 40,000 Debentures, with a nominal unit value of R$10,000.00, totaling R$400,000,000.00, with the last installment maturing on March 28, 2021. The Debentures was registered for distribution in the primary market and for trading in the secondary market through the Securities Distribution Module (“SDT”) and the National Debentures Module (“SND”), respectively, both managed and operated by CETIP S.A. – Mercados Organizados (“CETIP”), respecting the prohibition on trading for a period of ninety (90) days, pursuant to article 13 of CVM Instruction 476/09, and with distribution and trading settled by CETIP, where the Debentures will be held in custody electronically.

The Company additionally informs that on the present date all Debentures were subscribed and paid in, and the net proceeds raised by the Company through the Issue and the Restricted Offering, following deduction of the expected discounts, the distribution commissions and the estimated expenses to be paid by the Company, will be used to partially settle the 1st amortization installment of the Company’s 6th debenture issue, due on March 30, 2014.

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