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ArcelorMittal Announces Completion of Cash Tender Offer
03/05/2012 - ArcelorMittal announced the results of its cash tender offer launched on February 23, 2012to purchase its 5.375% Notes due June 1, 2013.
ArcelorMittal announced the results of its cash tender offer to purchase its 5.375% Notes due June 1, 2013 (CUSIP 03938L AC8 / ISIN US03938LAC81 (Registered); CUSIP 03938LAA2 / ISIN US03938LAA26 (Rule 144A); CUSIP L0302DAM5 / ISIN USL0302DAM58 (Reg. S)) (the “Notes”). The offer, which had been launched on February 23, 2012, expired on March 1, 2012.
ArcelorMittal accepted for purchase US$298,608,000 principal amount of notes for a total aggregate purchase price (including accrued interest) of US$313,823,079.
Upon settlement for all of the notes accepted pursuant to the offer, the remaining outstanding principal amount of Notes will be US$1,201,392,000.
Notes purchased pursuant to the offer have been or, as the case may be, will be paid for in same-day funds on the third business day following the date of tender, or as soon thereafter as practicable.
All Notes purchased pursuant to the offer will be immediately cancelled and will not be re-issued.
The company noted that this announcement does not constitute an offer to buy or the solicitation of an offer to sell securities mentioned here in any jurisdiction.
ArcelorMittal is the world's largest steel and mining company, with a presence in more than 60 countries. The company leads major global carbon steel markets, including automotive, construction, household appliances and packaging, with leading R&D and technology. The Group also has a world class mining business with a global portfolio of over 20 mines in operation and development, and is the world’s 4th largest iron ore producer. With operations in over 22 countries spanning four continents, the company covers the key industrial markets, from emerging to mature, and has outstanding distribution networks.
Through its core values of sustainability, quality and leadership, ArcelorMittal commits to operating in a responsible way with respect to the health, safety and well-being of its employees, contractors and the communities in which it operates. It is also committed to the sustainable management of the environment.
In 2011, ArcelorMittal had revenues of $94.0 billion and crude steel production of 91.9 million tonnes, representing approximately 6% of world steel output. The Group's mining operations produced 54 million tonnes of iron ore and 8 million tonnes of metallurgical coal.
