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Gerdau renews $1.5B credit line

Keywords: Tags  Gerdau, credit facility, Banco Santander Brasil, Latin America market, North America market, steel, Felipe Peroni

SÃO PAULO — 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 Steel First.

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 First.

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