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ArcelorMittal accepts tenders for $298.61 million 5.375% notes
By Jennifer Chiou
New York, March 2 - ArcelorMittal said it accepted for purchase $298,608,000 of its $1.5 billion of outstanding 5.375% notes due June 1, 2013 in the cash tender offer for any and all of the securities.
The company paid $1,037.50 for each $1,000 of notes accepted for purchase, along with accrued interest from the last interest payment date up to but excluding the settlement date for a total aggregate purchase price of $313,823,079.
The offer expired at 5 p.m. ET on March 1.
The offer was not contingent upon the tender of a minimum principal amount of notes.
The company planned to fund the tender offer using proceeds from a concurrent offering of three-, five- and 10-year notes.
J.P. Morgan Securities LLC (866 834-4666) was the dealer manager, and D.F. King & Co. (800 967-7921 or 212 269-5550) was the information agent.
The Luxembourg steel and mining company launched the offer on Feb. 23.
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