Deals of the Year 2011: Gerdau follow-on

Gerdau follow-on
Value	R$4,985 million ($ 3,141 million)
Date	April 12 2011
Bookrunners	Bradesco BBI, BTG Pactual and Itaú BBA
return to the Latin America Deals of the Year index

Latin American markets promised much but delivered little in terms of equity transactions. Brazil, the traditional engine of ECM activity, flattered to deceive with a successful IPO by Arezzo in January. Then the market fell away as deal after deal has priced at the bottom of or below its pricing range.

After-market performance was typically immediately bad but some deals clawed back lost ground through the year.