IDB Approves $200m Loan to Brazil’s Gerdau

The IDB has approved $200m in financing to Brazilian steel producer Gerdau Acominas to support its capital investment program. The multilateral will provide a $50m 9-year term loan with a 24-month grace period, and a disbursement period of 24 months at a spread over Libor, while up to $150m in financing will be provided in a syndicated loan with banks that have agreements with the multilateral. An IDB spokeswoman declined to comment on price.