By Sarah Lizee
Olympia, Wash., Nov. 15 – Gerdau SA subsidiary Gusap III LP priced $500 million of 4˝% bonds due 2030 (BBB-/BBB-) at 98.973, according to a notice.
The bonds are guaranteed by Gerdau and its subsidiaries, Gerdau Aconimas SA and Gerdau Acos Longos SA.
Proceeds from the Rule 144A and Regulation S deal will be used for general corporate purposes.
Gerdau is a steel producer based in Porto Alegre, Brazil.
| Issuer: | Gusap III LP
|
| Guarantors: | Gerdau SA, Gerdau Aconimas SA and Gerdau Acos Longos SA
|
| Issue: | Bonds
|
| Amount: | $500 million
|
| Maturity: | 2030
|
| Coupon: | 4˝%
|
| Price: | 98.973
|
| Announcement date: | Nov. 14
|
| Ratings: | S&P: BBB-
|
| Fitch: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
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