Notice to the Market – Bonds 2023 Reopening


Corporate Taxpayer’s ID (CNPJ/MF): 33.042.730/0001-04

Company Registry (NIRE): 35300396090

Publicly-held Company



Announcement of CSN Resources S.A.’s Pricing of Re-tap of US$175.0 Million of 7.625% Notes Due 2023


São Paulo, June 27, 2019 Companhia Siderúrgica Nacional (“CSN”) (NYSE: SID) announced today that its subsidiary, CSN Resources S.A., priced a re-tap offering of US$175.0 million in aggregate principal amount of 7.625% notes due 2023 (the “Notes”), at an issue price of 105.615% of principal amount plus accrued interest, representing a yield to maturity of 5.875%, offered pursuant to exemptions from registration under Rule 144A and Regulation S under the U.S. Securities Act of 1933, as amended (the “Securities Act”). The Notes were offered as a further issuance of and will be consolidated and form a single fungible series with CSN Resources S.A.’s 7.625% notes due 2023 issued in an aggregate principal amount of US$350.0 million on February 13, 2018 and US$400.0 million on April 17, 2019, raising the total outstanding aggregate principal amount on this tranche to US$925.0 million. Closing is expected to occur on July 2, 2019.


CSN expects to use the net proceeds from this offering to pay certain amounts of outstanding debt.


The Notes were offered and sold only to qualified institutional buyers in accordance with Rule 144A under the Securities Act and to non-U.S. persons in accordance with Regulation S under the Securities Act. When issued, the Notes will not have been registered under the Securities Act or state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which, or to any person to whom, such an offer, solicitation or sale is unlawful. Any offers of the Notes will be made only by means of a private offering memorandum.


São Paulo, June 27, 2019


Marcelo Cunha Ribeiro

Chief Financial and Investor Relations Officer