Breaking News
FONT-SIZE Plus   Neg
Share SHARE

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

RELATED NEWS
Trade MT now with 

ArcelorMittal (MT: Quote) 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.

Click here to receive FREE breaking news email alerts for Arcelor Mittal and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Social networking giant Facebook, Inc. said Wednesday after the markets closed that its second quarter profit more than doubled from last year, as revenue surged 61% amid strong growth in mobile advertising. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly revenue. With traders reacting to the latest batch of earnings news, stocks fluctuated over the course of the trading day on Wednesday before eventually ending the session mixed. The Dow ended the day in the red, but the broader Nasdaq and S&P 500 managed to close in positive territory. House Republicans revealed a series of recommendations to address the crisis along the U.S.-Mexico border on Wednesday, although party differences may prevent a final bill from being passed before the August recess.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.