Advice to Gerdau Aza S.A. in a financing
Transactions | June 28, 2018
Advice to Gerdau Aza S.A. in the financing of US$ 85,000,000 by Banco de Chile S.A., whose resources will be used to pay all the financial commitments of Gerdau Aza with other Chilean banks.
The financing was structured as a dual facility subject to Chilean law and secured by the promise of 100% of the shares of the borrower and all its related operating subsidiaries, in addition to being guaranteed by AZA Participaciones SpA, Aceros Cox Comercial S.A., and Armacero Matco S.A.
The refinancing operation was a condition for the acquisition of 100% of Gerdau Aza, which was part of the Brazilian group Gerdau S.A., through a group of Chilean investors, composed of the Del Río, Matetic and Conrads families.
This concludes the sale of 100% of the shares of Aza Participações SpA and its subsidiaries Gerdau Aza S.A., Aceros Cox S.A., Armacero – Matco S.A., and Salomon Sack S.A., through Gerdau Chile Inversiones Limitada, an indirect subsidiary of Gerdau S.A. The company was acquired by Ingeniería e Inversiones Limitada, Inversiones Reyosan SpA, Los Andes S.A. de Inversiones, and Matco Cables SpA.