Pursuant to Rule 13a-16 or 15d-16 of the
Rio de Janeiro, RJ
Federative Republic of Brazil
under cover Form 20-F or Form 40-F. Form 20-F ___X___ Form 40-F _______
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes _______ No ___X____
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For immediate release |
For More Information Contact:
Luciana Paulo Ferreira
CSN – Investor Relations
5511 30497588
luferreira@csn.com.br
www.csn.com.br
| CSN ANNOUNCES PROPOSED OFFERING OF GUARANTEED NOTES DUE 2015 |
(São Paulo, Brazil – September 9, 2004) - Companhia Siderúrgica Nacional (“CSN”) (BOVESPA: CSNA3) (NYSE: SID) announced today that its wholly-owned subsidiary CSN Islands IX Corp., (the "Issuer") intends to offer guaranteed notes due 2015 by means of a private placement to qualified institutional buyers under Rule 144A, and in offshore transactions pursuant to Regulation S, under the Securities Act of 1933, as amended (the "Securities Act"). The aggregate principal amount of such notes is anticipated to be U.S.$200,000,000. CSN will use the net proceeds from the offering for general corporate purposes, including the repayment of short-term indebtedness as it comes due.
CSN and the Issuer expect to file a registration statement with the United States Securities and Exchange Commission ("SEC") and to use their reasonable best efforts to exchange the notes for others registered with the SEC on or before October 31, 2005.
The notes have not been and, at the time of the offering, will not be, registered under the Securities Act, or any state securities laws, and may not be offered or sold in the United States absent registration under, or an applicable exemption from, the registration requirements of the Securities Act and applicable state securities laws. This press release shall not constitute an offer to sell the notes in the United States.
This communication is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 (the "Order") or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons identified in (i), (ii) and (iii) together being referred to as "relevant persons"). The notes are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such notes will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this communication or any of its contents.
| Companhia Siderúrgica Nacional, located in the state of Rio de Janeiro, Brazil, is a steel complex integrated by investments in infrastructure and logistics, that combines in its operation captive mines, an integrated steel mill, service centers, ports and railways. With a total annual production capacity of 5,800,000 tonnes of crude steel and gross revenues of R$ 8.3 billion reported in 2003, CSN is also the only tin-plate producer in Brazil and one of the five largest tin-plate producers worldwide. |
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COMPANHIA SIDERÚRGICA NACIONAL
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| By: |
/S/
Otavio de Garcia Lazcano
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Otavio de Garcia Lazcano
Principal Financial Officer
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This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.