Maples Group Advises CSN on US$1.2 Billion Senior Secured Syndicated Credit Facility
- Published
- in Deals
Maples and Calder, the Maples Group’s law firm, is pleased to have acted as Cayman Islands counsel to CSN Inova Ventures, a subsidiary of Companhia Siderúrgica Nacional (“CSN”), in connection with its US$1.2 billion senior secured syndicated credit facility.
The facility was arranged with Morgan Stanley, Citicorp, Credit Agricole, HSBC Bank USA, HSBC Mexico, Banco XP Cayman Branch, BNP Paribas, Banco do Brasil New York Branch and Banco Bradesco New York Branch.
The facility includes an option to increase the total amount by up to an additional US$200 million. The loan matures in 2031 and is supported by a comprehensive security package. CSN is one of Brazil’s largest integrated steel and mining conglomerates.
A team from the Maples Group’s Latin America practice advised on all Cayman Islands legal aspects of the transaction. The team was led by Finn O’Hegarty, Co-Head of the Latin America practice, and Partner Michael Lockwood, with support from Associate Michael Mclaughlin Murillo.
“It was a pleasure to support CSN and its subsidiaries on this important financing which is also a strong example of our longstanding experience advising Latin American clients on complex international financing arrangements.”, commented Michael Lockwood.
