Brazil's Gerdau to issue $250 million perpetual notes in mid-September

By Reshmi Basu and Paul A. Harris

New York, Sept. 1 - Gerdau SA plans to issue $250 million of perpetual notes (Ba3/BB-) in mid-September following a roadshow in Asia and Europe, according to a market source.

The issue will be structured as senior unsecured fixed-rate notes and will be non-callable for five years.

HSBC and Citigroup are lead managers for the Rule 144A/Regulation S deal.

Gerdau is a steel company with headquarters in Rio Grande do Sul, Brazil.

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