Beccar Varela and Allende & Brea advise on a loan granted to Grupo Gerdau worth US$800 million.
PRESS RELEASE
Buenos Aires, 30 October 2019. Beccar Varela and Allende & Brea rendered advice on a loan agreement for a total amount of up to US$800.000.000 granted to Grupo Gerdau.
The loan was granted by Bank of America N.A., Banco Bilbao Vizcaya Argentaria S.A., New York Branch, BNP Paribas, Citibank N.A., HSBC Bank USA, National Association, JP Morgan Chase Bank N.A., Mizuho Bank, Ltd., Banco Santander (Brazil) S.A., Luxembourg Branch. The Bank of New York Mellon acted as administrative agent. The loan is denominated in US dollars for a five-year term.
Grupo Gerdau will use the loan proceeds to carry out working capital investments.
Counsel to Grupo Gerdau:
Beccar Varela (Buenos Aires): team led by partner Roberto A. Fortunati, senior associate Pedro Silvestri and associate Victoria Hugo.
Greenberg Traurig, LLP (Nueva York).
Counsel to Bank of America N.A., Banco Bilbao Vizcaya Argentaria S.A., New York Branch, BNP Paribas, Citibank N.A., HSBC Bank USA, National Association, JP Morgan Chase Bank N.A., Mizuho Bank, Ltd., Banco Santander (Brazil) S.A., Luxembourg Branch:
Allende & Brea (Buenos Aires): team led by partner Jorge I. Mayora and associate Franco Jofré.
Hughes Hubbard & Reed LLP (Miami).