Gerdau Holdings sets price talk for 10-year note offering at 7.375%

By Christine Van Dusen and Paul A. Harris

Atlanta, Nov. 17 - Gerdau Holdings Inc. set price guidance for its planned benchmark offering of dollar-denominated notes due January 2020 (expected /BBB-/BBB-) at the 7.375% area, according to a market source.

The bookrunners for the Rule 144A and Regulation S offering are HSBC, Santander, Itau, Bank of America Merrill Lynch, Citigroup and JPMorgan.

Co-managers are BB Securities, BBVA Securities, BNP, Banco Bradesco, Calyon, Goldman Sachs, Morgan Stanley and Scotia Capital.

Proceeds will be used to repay debt and to extend the company's debt maturity profile.

A roadshow continued Tuesday in New York and Boston.

Delaware-based Gerdau Holdings is a subsidiary of Porto Alegre, Brazil-based steel producer Gerdau SA.

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