Ternium SA (TX) Says Usiminas Completes Debt Restructuring Process
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Ternium S.A. (NYSE: TX) reported that, on September 12, 2016, Usinas Siderúrgicas de Minas Gerais S.A. - Usiminas announced that it entered into definitive agreements with Banco do Brasil, Banco Bradesco, Itaú Unibanco, Brazilian state-owned development bank BNDES, Nippon Usiminas, Japan Bank for International Cooperation, the Bank of Tokyo-Mitsubishi, Mizuho Bank and Sumitomo Mitsui Banking Corporation, as well as with debenture holders, to refinance approximately 92% of the company's total indebtedness. In its announcement, Usiminas' management considered that the conclusion of its debt restructuring process preserves the company's financial and operational capabilities, adjusting its financial profile to short, medium and long term prospects.
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