logo
Share SHARE
FONT-SIZE Plus   Neg

ArcelorMittal Begins Cash Tender Offer To Buy Any And All Of USD 5.375% Notes

ArcelorMittal (MT) has commenced an offer to purchase for cash any and all of its notes, with the notes having an aggregate principal amount outstanding of $1.5 billion. The company said it is making the offer in order to retire all or a portion of the Notes prior to their maturity.

The offer is not contingent upon the tender of any minimum principal amount of notes. ArcelorMittal is making a concurrent bond offering, consisting of three-year, five-year and ten-year notes. The company added that the proceeds from such bond financing may provide sufficient financing for the notes purchase, plus costs and expenses related to the offer. If the total amount owed in association with the offer exceeds the net proceeds of the concurrent bond financing, ArcelorMittal would fund this excess with internally generated funds.

ArcelorMittal has retained J.P. Morgan Securities LLC to serve as the dealer manager for the Offer. D.F. King & Co., Inc. has been retained to serve as the information agent.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Major League Baseball is talking expansion for the first time in a few decades. Owners stand to make a pretty penny from expansion fees and subsequent television rights. The possibility of a more balanced schedule is also enticing. Strong expansion candidates in the U.S. and Canada are ready... The New York Times is teaming up with Google again to give away Google Cardboard, the virtual reality headsets, but this time only to its "most loyal" digital subscribers. The company said that the digital-only subscribers selected for this distribution were chosen based on the duration of their subscriptions. Oil company Exxon Mobil Corp. on Friday reported a 63 percent fall in profit for the first quarter from last year, while Chevron Corp. reported a loss for the quarter, both on lower revenues. The results were impacted by the fall in crude oil prices and weaker refining margins. However, Exxon Mobil's earnings beat analysts' estimates, while Chevron's loss was wider than their expectations.
comments powered by Disqus
Follow RTT