We use cookies to improve your experience. By using BondbloX, you agree to our use of cookies.
Bond Market News
CSN’s Dollar Bonds Rally as New CEO Revives Asset Sale Plans
September 21, 2026
Cia. Siderúrgica Nacional’s (CSN) bonds have rallied following the appointment of Fabio Schvartsman as CEO, as investors expect him to accelerate the company’s asset-sale program and reduce its heavy debt burden. Schvartsman, the former CEO of Vale, was appointed on September 2, replacing the company’s long-standing leadership outside the controlling family. The sale of CSN’s cement unit is in the most advanced stage, with Huaxin, Votorantim and Polimix each submitting binding offers of around BRL 11bn ($2.1bn). CSN had initially sought BRL 15bn ($2.9bn) for the asset but could accept a lower price. The company is also selling its German steel unit Stahlwerk Thuringen and receiving bids for infrastructure assets. CSN’s net debt stood at BRL 42.1bn ($8.2bn) as of June 30, with leverage at 3.5x EBITDA. The company also posted an adjusted net loss of BRL 773mn ($150.3mn) in 2Q2026, its 10th consecutive quarterly loss.
CSN’s bonds have returned ~4-5% since Schvartsman’s appointment with its 5.875 2032s at 65.9, yielding 15.2%.
For more details, click here
– Ritish G
Go back to Latest bond Market News
Related Posts:
Our Awards
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.