Brazil's Gerdau sets size of $1 billion for 10-year bullet notes

By Aaron Hochman-Zimmerman

New York, Oct. 16 - Gerdau SA announced a size of $1 billion for its offering of 10-year bullet notes (Ba2/BBB-/BBB-), according to a market source.

ABN Amro, HSBC and JP Morgan will act as bookrunners for the Rule 144A and Regulation S deal.

There is a change-of-control put at 101.

Gerdau is a Porto Alegre, Brazil-based steel manufacturer.

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