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CSN Plans Sale of Its Cement Unit; Mining Unit Explores $200mn Prepayment
April 15, 2026
Companhia Siderúrgica Nacional (CSN) is set to begin the binding bid phase for the sale of its cement unit in the coming weeks, following the receipt and shortlisting of non-binding offers. The asset could be valued at over BRL 10bn (~$2bn), sources noted. They added that the talks involve interest from both domestic and international players, including Votorantim, J&F and Chinese firms such as Anhui Conch Cement and Huaxin Cement. The transaction could be completed by year-end subject to regulatory approvals, with proceeds expected to support CSN’s balance sheet. It’s mining subsidiary, CSN Mineracao SA is exploring a ~$200mn prepayment deal with commodity traders backed by future iron ore shipments. The unit is seeking funding amid elevated financing and capital costs within the broader CSN group. The move comes amid rising iron ore prices and intensifying competition among trading houses to secure long-term supply. The company has previously executed similar structures, including a $240mn prepayment deal with Vitol SA.
It’s 5.875% 2032s were trading stable at 61.5 cents on the dollar, yielding 16.2%.
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