Other lenders in the syndicate were Bank of America, Banco Bilbao Vizcaya Argentaria, New York Branch, BNP Paribas, Citibank, HSBC Bank USA, JP Morgan Chase Bank, Mizuho Bank, and Banco Santander (Brazil),Luxembourg Branch.
Grupo Gerdau will use the loan proceeds to carry out working capital investments. The loan is denominated in U.S. dollars for a five-year term.
Beccar Varela, Greenberg Traurig, Allende & Brea and Hughes Hubbard & Reed advised on the deal.
Steel manufacturer Gerdau, led by Gustavo Werneck Da Cunha, Yuan C Wang and Harley Lorentz Scardoelli has operations in several countries located in the Americas, Europe and Asia. In 2018 the group recorded $11.606 billion revenues.