(*) Weighted average effective interest costs on December 31, 2021, which represents total of 5.76%.

Loans and financing denominated in Brazilian reais are indexed to fixed rates or CDI (Interbank Deposit Certificate).

Summary of loans and financing by currency:


	2021	2020
Brazilian Real (BRL)	461,187	1,245,988
U.S. Dollar (USD)	10,535,532	13,366,946
Other currencies	113,067	—
	11,109,786	14,612,934

The amortization schedules of long-term loans and financing are as follows:


	2021	2020
2022	—	5,210
2023	1,115,211	2,108,324
2024	878,044	1,813,225
2025	405,788	682,422
2026 on	8,476,206	8,579,710
	10,875,249	13,188,891

a) Credit Lines

In October 2019, the Company completed the renewal of the Global Credit Line in the total amount of US$ 800 million (equivalent to R$4,464 million as of December 31, 2021). The transaction aims to provide liquidity to subsidiaries in North America and Latin America, including Brazil. The companies Gerdau S.A., Gerdau Açominas S.A. and Gerdau Aços Longos S.A. provide guarantee for this transaction, which matures in October 2024. As of December 31, 2021, the outstanding balance of this credit facility was US$ 85 million (equivalent to R$ 474 million as of December 31, 2021).

b) Significant funding and settlements of financing in 2021

During the 4^th quarter of 2021, the Company repurchased Bonds, maturing in 2023, 2024 and 2027, in the total principal amount of US$ 395.8 million (equivalent to R$ 2,208 million). Additionally, the subsidiary Gerdau Açominas S.A. effected the early settlement of two bilateral loans in the total amount of R$ 775 million with the banks Santander and Bank of America.