USIMINAS NEGOTIATES WITH BANKS THE REFINANCING OF US$ 1 BILLION, SAY SOURCES

 Usiminas is negotiating with banks the refinancing of about 4 billion reais ($1 billion) in loans maturing in the next two years, four sources with direct knowledge of the matter said on Friday to Reuters.

Usiminas, as the company is known, has contacted Itaú Unibanco Holding SA, Banco Bradesco SA, Banco Santander Brasil SA and Banco do Brasil SA to grant a standstill agreement effective immediately, said two sources, who requested anonymity since talks are preliminary.