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ArcelorMittal announces results of tenders for three series of notes
New York, April 19 – ArcelorMittal announced the results of its tender offers for its €1 billion of 4 5/8% notes due Nov. 17, 2017, its €500 million of notes due March 29, 2018 and its $1.5 billion of 6 1/8% notes due 2018.
By the expiration dates, holders had tendered €460.18 million of the 4 5/8% notes, €166,477,000 of the 4½% notes and $437,739,000 of the 6 1/8% notes, according to two news releases.
The total for the 6 1/8% notes includes $4,764,000 tendered under guaranteed delivery procedures.
The tender offer for the euro notes ended at 11 a.m. ET on April 18 while the tender for the dollar notes ended at 5 p.m. ET on April 18.
ArcelorMittal announced the concurrent tenders on April 11, saying that for the euro notes the purchase price would be 108.65 for the 5 7/8% notes and 108.25 for the 5¾% notes.
The price for the dollar notes was set at 104.625.
Holders will also receive accrued interest to but excluding the settlement date, which was expected to be Tuesday except for guaranteed-delivery notes, which will be settled on Thursday.
ArcelorMittal said that the coupons for the euro notes have increased under an interest adjustment clause to 5 7/8% from 4 5/8% for the 2017 euro notes and to 5¾% from 4½% for the 2018 euro notes.
Barclays Bank plc (+44 20 3134 8515), BNP Paribas (+44 20 7595 8668), Citigroup Global Markets Ltd. (+44 20 7986 8969) and J.P. Morgan Securities plc (+44 20 7779 2468) are the dealer managers for the euro notes. D.F. King (+44 20 7920 9700, +852 3953 7230 or arcelor@dfkingltd.com) is the information and tender agent.
Barclays (800 438-3242), BNP Paribas (888 210-4358), Citigroup (800 558-3745) and JPMorgan (866 834-4666) are the dealer managers for the dollar notes. D.F. King (+44 0 20 7920 9700, 800 814 4284, 212 269 5550, +852 3953 7230 or arcelor@dfkingltd.com) is the information agent and tender agent.
ArcelorMittal is a Luxembourg-based steel producer.
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