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11. BORROWINGS, FINANCING AND DEBENTURES (Tables)
 12 Months Ended
Dec. 31, 2017
Borrowings Financing And Debentures Tables  
Borrowings, financing and debentures

The balances of borrowings, financing and debentures, which are carried at amortized cost, are as follows:

 

                Consolidated
  Rates p.a.  (%) Current liabilities   Non-current liabilities
  12/31/2017   12/31/2016   12/31/2017   12/31/2016
FOREIGN CURRENCY                
Prepayment 1% to 3.5% 2,174   110,944   489,584   482,347
Prepayment 3.51% to 8% 788,989   438,802   3,607,925   4,290,062
Perpetual bonds 7% 4,503   4,436   3,308,000   3,259,100
Fixed rate notes 4.14% to 10% 139,184   137,126   5,612,342   5,529,380
ACC 3.135% 379,822            
Others 1.2% to 8% 251,630   95,983   197,130   259,262
    1,566,302   787,291   13,214,981   13,820,151
LOCAL CURRENCY                
BNDES/FINAME 1,3% + TJLP and fixed rate 2.5% to 6% + 1,5% 71,121   73,736   960,872   1,012,268
Debentures 110.8% to 113.7% of CDI 523,252   538,003   770,767   1,270,383
Prepayment 109.5% to 116.5% of CDI and fixed rate of 8% 1,789,737   570,778   3,378,333   5,080,000
CCB 112.5% and 113% of CDI 2,601,352   181,143   4,693,000   7,200,000
    4,985,462   1,363,660   9,802,972   14,562,651
Total borrowings and financing (Note 12 I) 6,551,764   2,150,951   23,017,953   28,382,802
Transaction costs and issue premiums (24,862)   (33,503)   (34,011)   (59,232)
Total borrowings and financing + transaction costs 6,526,902   2,117,448   22,983,942   28,323,570
Maturities of borrowings, financing and debentures

As of December 31, 2017, the breakdown of principal plus interest of long-term liabilities as borrowings, financing and debentures by maturity date is presented as follows:

 

                            Consolidated
    Prepayment   Bonds   Perpetual Bonds   CCB   Othes   Total
2019   2,824,551   2,238,034 (*)     1,507,000   670,383   7,239,968   31%
2020   2,409,959   3,374,308 (*)     1,508,000   280,243   7,572,510   33%
2021   1,276,969           774,000   177,659   2,228,628   10%
2022   964,363           784,000   95,484   1,843,847   8%
2023               120,000   56,631   176,631   1%
After 2023                   648,369   648,369   3%
Perpetual bonds           3,308,000           3,308,000   14%
    7,475,842   5,612,342   3,308,000   4,693,000   1,928,769   23,017,953   100%

 

(*) In February 2018, the Company concluded the renegotiation of its debt with Banco do Brasil S.A (“BB”), as well as the issuance of debt instruments and repurchase of US$350 million (Tender Offer), as described in more detail in note 31 - Events subsequent.
New funding transactions and amortization

The table below presents the new funding transactions and amortization during the year:

 

        Consolidated
    12/31/2017   12/31/2016
Opening balance         30,441,018         34,282,515
Funding Transactions              538,771                30,034
Forfaiting funding / Drawee Risk                    78,240
Repayment          (1,528,023)             (695,938)
Payments - Forfaiting / Drawee Risk                 (407,155)
Payment of interest and other charges          (2,634,931)          (3,044,342)
Payment of interest and other charges – Forfaiting / Drawee                     (5,694)
Provision of interest and other charges           2,438,555           3,156,120
Provision of charges -  Forfaiting / Drawee Risk                      4,237
Others (1)              255,454          (2,956,999)
Closing balance         29,510,844         30,441,018

 

(1) Includes unrealized monetary and foreign exchange variations.
Group captures and amortized loans

In 2017, the Group captures and amortized loans as shown below:

 

·      Funding

 

                Consolidated
Transaction   Financial institution   Date   Amount   Maturity
 CDC - ERSA    BANCO MERCEDEZ BENS August/17                    4,265   October/21
 Advance contract exchange (ACC)      BB   September/17                171,000   may/18
 Fixed Rate Notes    JP MORGAN   November/17                163,506   November/18
 Advance contract exchange (ACC) (*)    BB   December 2017                200,000   February/18
 Total                        538,771    

(*) The operation was amortized in February 02, 2018

 

·      Amortization

 

        Consolidated
Transaction   Payment of principal   Debt charges
Bonds   -   578,482
Fixed Rate Notes   90,028   12,736
Debentures   479,617   201,118
Bank Credit Bill   -   869,717
Export Credit Note   400,000   668,325
Pre - Export Payment   490,803   226,894
BNDES/FINAME   67,575   75,539
Advance contract exchange (ACC)   -   2,120
Total   1,528,023   2,634,931
Borrowings, financing and debentures amortization

The Company is liable for guarantees of its subsidiaries and joint ventures as follows:

 

  Currency   Maturities   Borrowings   Tax foreclosure   Other   Total
          12/31/2017   12/31/2016   12/31/2017   12/31/2016   12/31/2017   12/31/2016   12/31/2017   12/31/2016
Transnordestina Logísitca R$   Up to 09/19/2056 and Indefinite   2,541,347   2,547,937   22,214   23,007   3,866   4,866   2,567,427   2,575,810
                                       
FTL - Ferrovia Transnordestina R$   11/15/2020   69,405   76,700                   69,405   76,700
                                       
Sepetiba Tecon R$   Indefinite                   36,308   28,914   36,308   28,914
                                       
Cia Metalurgica Prada R$   Indefinite           333   333   18,540   19,340   18,873   19,673
                                       
CSN Energia R$   Indefinite           2,829   2,829           2,829   2,829
                                       
CSN Mineração R$   09/22/2022   2,000,000   2,000,000               2,520   2,000,000   2,002,520
                                       
Estanho de Rondônia R$   07/15/2022   3,153                       3,153    
                                       
Total in R$         4,613,905   4,624,637   25,376   26,169   58,714   55,640   4,697,995   4,706,446
                                       
CSN Islands XI US$   09/21/2019   750,000   750,000                   750,000   750,000
                                       
CSN Islands XII US$   Perpetual   1,000,000   1,000,000                   1,000,000   1,000,000
                                       
CSN Resources US$   07/21/2020   1,200,000   1,200,000                   1,200,000   1,200,000
                                       
 Total in US$         2,950,000   2,950,000                   2,950,000   2,950,000
                                       
CSN Steel S.L. EUR   01/31/2020   120,000   120,000                   120,000   120,000
                                       
Lusosider Aços Planos EUR   Indefinite   25,000   25,000                   25,000   25,000
                                       
 Total in US$         145,000   145,000                   145,000   145,000
Total in R$         10,334,149   10,112,913                   10,334,149   10,112,913
          14,948,054   14,737,550   25,376   26,169   58,714   55,640   15,032,144   14,819,359