Reported Earlier, CSN Subsidiary Offers $746.15 New Notes Plus $253.85 Cash Per $1,000 Tendered, Alongside Consent Solicitation For Indenture Amendments

Shares of steel-related companies are trading higher as investors expect that the U.S. and Canada will fail to reach a trade agreement ahead of Saturday's deadline. The inability to reach an agreement could expose Canada to a 50% tariff on several key exports, which may benefit U.S.-based producers.

Announcement of Private Exchange Offer for Any and All of CSN Inova Ventures’ Outstanding 6.750% Senior Notes due 2028 and Consent Solicitation

CSN Inova Ventures, a subsidiary of Companhia Siderúrgica Nacional, has launched an exchange offer to swap its outstanding $1.3 billion in 6.750% Senior Notes due 2028 for 11.000% Senior Notes due 2030 plus cash consideration. The offer, which expires August 10, 2026, requires a minimum participation of 70% of outstanding notes and includes a consent solicitation for indenture amendments. The new notes feature a potential interest rate reduction to 10.500% if at least $200 million in principal is retired by February 2028.

Shares of industrial metals-related companies are trading higher after President Trump's amendments to decrease certain U.S. tariffs on imported aluminum, copper and steel products.