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

ArcelorMittal Posts Loss In Q1, Sales Drop - Quick Facts

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2/23/2012 9:32 AM ET

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.

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