logo
Plus   Neg
Share
Email

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 RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Walmart is ditching its dress code policy and is testing a new dress code that will allows "associates" to wear blue denim and shirts of any solid color. The updated dress coded guidelines now allow employees to wear blue "jeggings" and blue jeans and shirts of any solid color, according to a Walmart... Canadian investment firm Fairfax Financial Holdings Ltd. has submitted a "stalking horse" bid worth C$300 million, or $237 million, for the Canadian unit of Toys "R" Us, according to court documents. A stalking horse bid is an initial bid on the assets of a bankrupt company. The bankrupt company will choose an entity from a pool of bidders who will make the first bid on its assets. The car rental market in the U.S. is consolidating as large car rental companies are buying smaller, local companies to expand their portfolio of premium and value brands. The key players in the U.S. market include Enterprise Holdings, Hertz Global Holding and Avis Budget Group. Let's take a look at some of the best and worst car rental companies in the U.S.
Follow RTT