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Brazil’s Gerdau announces roadshow for dollar-denominated notes
By Rebecca Melvin
New York, Oct. 4 – Brazil’s Gerdau SA plans to roadshow a dollar-denominated offering of notes tied to its tender for up to $500 million of existing notes, a market source said.
No other details were yet announced, the source said.
Citigroup and Santander Investment Securities are bookrunners for the new deal.
Gerdau is tendering for three series of existing notes including its 5¾% notes due 2021, 7% bonds due 2020 and 5.893% notes due 2024. The offer expires Nov. 1.
Gerdau is a steel producer based in Porto Alegre, Brazil.
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