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
Health IQ Insurance Services, a startup focused on providing life insurance for health-conscious individuals, said it has secured $34.6 million in Series C funding, led by Andreessen Horowitz. To date, the company has raised a total of $81 million in funding mostly from its existing investors. General Motors Co. is recalling nearly 49,000 trucks worldwide to fix a fuel tank issue that can increase the risk of a fire. The recall covers Chevrolet Silverado 3500 and GMC Sierra 3500 trucks from the 2011 through 2015 model years, all equipped with dual fuel tanks. Meredith Corp. is reportedly in talks for the acquisition of Time Inc, with a staunch support from billionaire brothers Charles and David Koch. Des Moines-based Meredith is the publisher of Family Circle and Better Homes and Gardens and aims to acquire the publisher of Time, People and Fortune Magazines.
comments powered by Disqus
Follow RTT