Gerdau Set for Pricing Today

Metalurgica Gerdau and Gerdau SA will today offer a combined $2bn in shares in the form of Bovespa-listed stock and NYSE-listed ADS via Itau BBA and JPMorgan. The deal should be the year’s largest so far and is expected to be successful, given its size, and the impressive track record of the issuer. The Brazilian steelmaker has expanded its business abroad significantly in the past five years, including two LatAm acquisitions this past month.