Gerdau Closes Flexed A/B Loan

Gerdau Closes Flexed A/B Loan


Brazilian steelmaker has wrapped up syndication of a $150m 7-year B loan. The margin is 150bp over Libor after an increase from launch at 137.5bp. The company raised an additional $50m in 9-year funds via an IDB A loan. Sumitomo, Standard Chartered, HSBC are heard to have joined the syndication led by Citi. Gerdau is one of the most active users of LatAm markets in the past year. Last fall it secured $2.75bn through a loan with 5 and 6 year tenors at 100bp and 125bp, respectively, over Libor to

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