Gerdau Loan Financing Gains Momentum

Gerdau Loan Financing Gains Momentum


Bank of Tokyo Mitsubishi has joined BBVA as an MLA on a $2.75bn loan for Gerdau is taking out to acquire US competitor Chaparral Steel. The Brazilian steelmaker has hired JPMorgan, ABN AMRO and HSBC as joint book runners, and is looking to lure MLAs with $300m tickets to participate in the 3-tranche financing. It includes a 5-year trade related piece at Libor plus 100bp, a 6-year trade piece at Libor plus 125bp and a 5-year working capital facility at the same spread, according to people familia

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