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11 BORROWINGS, FINANCING AND DEBENTURES (Tables)
 12 Months Ended
Dec. 31, 2019
Borrowings financing and debentures [Abstract]  
Schedule of financial assets borrowings, financing and debentures

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

 

         

Consolidated

 

      Current liabilities   Non-current liabilities
      12/31/2019   12/31/2018   12/31/2019   12/31/2018
                   
Debt agreements in the international market                  
Variable interest in:                  
 US$                  
Prepayment      1,769,975   1,016,737   2,563,928   3,830,240
Fixed interest in:                  
US$                  
Bonds, Perpetual Bonds and ACC (1)   2,047,032   2,490,178   10,177,517   8,613,491
EUR                  
Others     223,204   181,056   147,241   106,535
      4,040,211   3,687,971   12,888,686   12,550,266
                   
Debt agreements in Brazil                  
Securities with variable interest in:                  
R$                  
BNDES/FINAME, Debentures, NCE and CCB (2)   1,086,985   1,890,450   10,049,783   10,710,678
Securities with fixed interest in:                  
R$                  
Intercompany     25,038            
Prepayment          103,376        
      1,112,023   1,993,826   10,049,783   10,710,678
Total Borrowings and Financing     5,152,234   5,681,797   22,938,469   23,260,944
Transaction Costs and Issue Premiums     (26,391)   (28,358)   (97,276)   (87,309)
Total Borrowings and Financing + Transaction Costs     5,125,843   5,653,439   22,841,193   23,173,635

 

(1)     In April 2019, the Company issued debt securities in the foreign market ("Bonds"), through its subsidiary CSN Resources S.A., in the amount of US$ 1 billion, being US$ 400 million with maturity in February 2023 and US$600 million with maturity in April 2026, both with interest of 7.625% per annum. Between April and May 2019, a tender offer ("Tender Offer") of the Notes was issued by CSN Islands XI Corp. and CSN Resources S.A., subsidiaries of the Company, having repurchased US$ 1 billion in bonds with maturity in 2019 and 2020. In July 2019, the Company issued thought to its subsidiary CSN Resources, debt securities in the foreign market (“Bonds”), in the amount of US$ 175million, with maturity in February 2023 and interest of 7.625% per annum and made the final payment of the debt in the foreign market (“Notes”), issued by the company CSN Islands XI Corp in September 2019 in the amount of US$ 142 million.

 

(2)     In January 2019, the Company issued debt securities in the domestic market (“Debentures”), in the amount of R$ 1,950 million, with maturity in 2023 and interest of 126,8% of CDI.
Schedule of financial assets average interest rate

The following table shows the average interest rate:

 

   

Consolidated 

        12/31/2019
    Average interest rate (*)   Total debt
US$   6.66%   16,558,452
R$   5.71%   11,161,806
EUR   2.20%   370,445
        28,090,703

 

(*) In order to determine the average interest rates for debt contracts with floating rates, the Company used the rates applied as of December 31, 2019.
Schedule of financial assets maturities of borrowings, financing and debentures

As of December 31, 2019, the breakdown of principal plus interest of long-term liabilities as borrowings, financing and debentures by maturity date is presented as follows:

 

                Consolidated
                12/31/2019
                Principal
    Bank loans   Capital markets   Development agencies   Total
2021            2,884,003               636,667                        55,636            3,576,306
2022            2,700,341               556,666                        54,836            3,311,843
2023            2,945,897            4,378,398                        53,957            7,378,252
2024            1,575,437                            64,746            1,640,183
2025                                68,595                 68,595
After 2025                2,418,420                      514,170            2,932,590
Perpetual bonds                4,030,700                4,030,700
           10,105,678          12,020,851                      811,940          22,938,469
Schedule of financial assets new funding transactions and amortization

The table below presents the funding raised and amortizations during the year:

 

  Consolidated
    12/31/2019   12/31/2018
Opening balance   28,827,074   29,510,844
Raised (1)   10,149,381   2,154,471
Payment of principal   (11,775,093)   (5,019,978)
Payment of charges   (2,039,112)   (2,141,710)
Provision of charges (Note 24)   1,996,305   2,009,688
Consolidation of CBSI as of November 30, 2019   19,722    
Disposal of LLC       (10,544)
Others (2)   788,759   2,324,303
Closing balance   27,967,036   28,827,074
         

(1) Of the funding raised in the consolidated in 2019, R$100,661 (R$ 10,792 on December 31,2018) was raised to purchase fixed assets – see note 29.

 

(2) Includes unrealized exchange and monetary variations.
Schedule of financial assets group captures and amortized loans

Funding raised and amortizations:

 

Consolidated 

12/31/2019 

Nature   Raised   Amortization of principal   Amortization of charges
Prepayment   805,288   (1,596,711)   (319,257)
Bonds, Perpetual bonds, ACC and Facility   6,616,544   (5,959,029)   (882,007)
BNDES/FINAME, Debentures, NCE and CCB   2,727,549   (4,219,353)   (837,848)
    10,149,381   (11,775,093)   (2,039,112)