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ArcelorMittal Announces Bond Issue Pricing
08/04/2010 - ArcelorMittal completes pricing of two series of U.S. dollar denominated notes, consisting of USD 1 billion aggregate principal amount of its 3.75% Notes due 2015, USD 1 billion aggregate principal amount of its 5.25% Notes due 2020, and a reopening of its 7% Notes due 2039 for USD 500 million aggregate principal amount.
ArcelorMittal has completed the pricing of two series of U.S. dollar denominated notes, consisting of USD 1 billion aggregate principal amount of its 3.75% Notes due 2015, USD 1 billion aggregate principal amount of its 5.25% Notes due 2020, and a reopening of its 7% Notes due 2039 for USD 500 million aggregate principal amount.
The 7% Notes due 2039 will be consolidated with and form a single series with the USD 1 billion aggregate principal amount of 7% Notes due 2039 that were issued on October 8, 2009. Upon completion of this offering, USD 1.5 billion of aggregate principal amount of the Issuer’s 7% Notes due 2039 will be outstanding.
The proceeds to ArcelorMittal (before expenses), amounting to approximately USD 2.5 billion, will be used to refinance existing indebtedness.
The offering is scheduled to close on August 5, subject to satisfaction of customary conditions.
ArcelorMittal is the world's leading steel company, with operations in more than 60 countries. It is the leader in all major global steel markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. In 2009, ArcelorMittal had revenues of $65.1 billion and crude steel production of 73.2 million tonnes, representing approximately 8% of world steel output.
