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Bond Market News
CSN To Sell German Subsidiary for $616mn
October 16, 2026
Companhia Siderúrgica Nacional (CSN) has agreed to sell its German subsidiary, Stahlwerk Thüringen (SWT), to Spain’s Megasa Group for €550mn ($616.2mn). The companies have signed a non-binding agreement outlining the key terms for the sale of 100% of SWT, with the transaction to be executed through CSN Steel, which controls CSN’s European assets, and Megasa subsidiary Bipadosa. The agreement includes an exclusivity period of up to 10 weeks. SWT produces long steel products at its Unterwellenborn facility, which has an installed steel production capacity of 1.1mn tonnes annually. CSN acquired the company in 2012. The divestment is part of CSN’s broader asset-sale programme aimed at reducing debt and optimising its portfolio in line with its strategic financial objectives.
Its 5.875% 2032s traded weaker by 1.8 points to 54.9 cents on the dollar.
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