Gerdau organizes new notes

Gerdau organizes new notes

Bonds Debt Capital Markets Fixed Income Corporate & Sovereign Strategy Brazil US

Brazil's Gerdau has hired Bradesco BBI, Bank of America and Mizuho to lead the sale of $500 million in 10-year bonds, said a source following the deal. The steelmaker has not been in the cross-border bond market this year, but it has decided to return after the government issued $2.5 billion in new 2050 notes and added $500m to its 2029 notes on November 4, the source said. Gerdau sold $650 million in 10-year dollar bonds in October 2017, raising money to fund the buyback of $587 million in outs

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