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ArcelorMittal Announces EUR 2.5 Billion Bond Issue

05/28/2009 - ArcelorMittal completes pricing of two series of EUR-denominated notes for an aggregate principal amount of EUR 2.5 billion.

ArcelorMittal has completed pricing of two series of EUR-denominated notes for an aggregate principal amount of €2.5 billion.
 
The company said it will use the  proceeds to lengthen its debt maturity profile and to refinance existing indebtedness.
 
The offering comprises €1.5 billion of its 8.250% Notes due 2013 and €1.0 billion of its 9.375 % Notes due 2016. It is scheduled to close on 3 June 2009, subject to satisfaction of customary conditions.
 
ArcelorMittal is the world's largest steel company, with operations in more than 60 countries. The company leads 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. With an industrial presence in over 20 countries spanning four continents, the company covers the key steel markets, from emerging to mature.
 
Through its core values of sustainability, quality and leadership, ArcelorMittal commits to operating in a responsible way with respect to the health, safety and wellbeing of its employees, contractors and the communities in which it operates. It is also committed to the sustainable management of the environment and of finite resources. Recognizing that it has a significant responsibility to tackle the global climate change challenge, ArcelorMittal takes a leading role in the industry's efforts to develop breakthrough steelmaking technologies and is actively researching and developing steel-based technologies and solutions that contribute to combat climate change.
 
In 2008, ArcelorMittal had revenues of $124.9 billion and crude steel production of 103.3 million tonnes, representing approximately 10% of world steel output.