Gerdau lines up USD 1.13 billion global working-capital credit facility - GGB News | RalliesGerdau lines up USD 1.13 billion global working-capital credit facility
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GGB• Board authorizes new global working-capital credit agreement
- Gerdau’s board authorized a new Senior Unsecured Global Working Capital Credit Agreement for up to USD 1.13 billion.
- The five-year facility includes an extension option of up to one additional year.
- Crédit Agricole Corporate and Investment Bank will administer the line, with up to nine relationship lenders expected to join.
- The board also cleared joint and several guarantees covering obligations of multiple Gerdau group borrowers under the Credit Agreement.
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