Brazilian steelmaker Gerdau SA has renewed a syndicated
loan facility of up to $1.5 billion to increase liquidity in
its Latin American and North American operations.
"Gerdau clarifies it
is renewing a global credit line granted in 2011, destined to
many of its firms, worth up to $1.5 billion, aimed at improving
liquidity in its North America, Latin America and Special Steel
operations," the company told AMM sister publication
Maturing in three years, the syndicated loan involves 13
financial institutions, with Banco Santander Brasil the lead
arranger of the operation, Gerdau said in a note to Brazilian
securities regulator CVM Nov. 19.
A version of this
article was first published in AMM sister publication Steel