Maples Group Advises Gerdau on US$1.12 Billion Revolving Credit Facility
The significant cross-border financing spanned seven jurisdictions.
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Maples and Calder, the Maples Group’s law firm, is pleased to have acted as British Virgin Islands (“BVI”) counsel to Gerdau S.A. (“Gerdau”) and several of its subsidiaries in connection with a five-year, US$1.12 billion revolving credit facility provided by a syndicate of nine banks.
The cross-border transaction spanned seven jurisdictions and involved parties and advisers from Argentina, Brazil, the British Virgin Islands, Canada, Mexico, Peru and the United States.
The revolving facility provides Gerdau, Brazil’s largest steel producer and a leading global manufacturer of long and special steel, with the flexibility to draw down and repay funds as needed. It supports the company’s day-to-day operations and may also be used by its Mexican subsidiary for working capital purposes.
The Maples Group team in the BVI was led by Partner Ruairi Bourke, supported by Associate Chloe Parsons, and advised Gerdau on all BVI legal aspects of the revolving credit facility.
Commenting on the transaction, Ruairi said: “We are pleased to have supported Gerdau on this significant cross-border financing which supports the company’s ongoing operations and growth objectives.”
The Maples Group’s Latin America practice is a leading provider of Cayman Islands and BVI legal advice on high-value and noteworthy transactions across the Latin America region. The practice was once again recognised as a “Highly Recommended Firm” for International Counsel Offshore in the 2027 edition of Latin Lawyer 250.
