BRIEF-Metalurgica Gerdau to issue debentures worth up to BRL 450 million

lunes 11 de julio de 2016 06:16 GYT

July 11 (Reuters) - Metalurgica Gerdau SA :

* Said on Thursday that its extraordinary general meeting had approved the fifth private debenture issue totalling up to 450.0 million Brazilian reais ($136.6 million)

* Minimum issue value to be subscribed and paid up is 150.0 million reais

* Will use 88 percent of net proceeds to amortize short-term debt and 12 percent of net proceeds to strengthen cash position

* The debentures will have a term of three years and will mature on August 9, 2019

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($1 = 3.2953 Brazilian reais) (Gdynia Newsroom)