ArcelorMittal confirms that it has given notice that it will redeem all of its outstanding US$1,400,000,000 4.500% Notes due February 25, 2017 on May 20, 2016 at a price equal to the greater of 100% of the principal amount of the Notes to be redeemed and the sum of the present values of the Remaining Scheduled Payments of the Notes to be redeemed.
Discounted to the date of redemption on a semi-annual basis at the Treasury Rate plus 50 basis points, in each case plus accrued and unpaid interest thereon to the Redemption Date.
The Treasury Rate will be calculated on the third business day preceding the Redemption Date.
ArcelorMittal will fund the redemption of the Notes with the proceeds of its rights offering that closed on April 8, 2016.
About ArcelorMittal
ArcelorMittal is one of the world’s leading integrated steel and mining companies with a presence in 60 countries and primary steelmaking operations in 15 countries. It is the largest steel producer in Europe, among the largest in the Americas, and has a growing presence in Asia through its joint venture AM/NS India. ArcelorMittal sells its products to a diverse range of customers including the automotive, engineering, construction and machinery industries, and in 2024 generated revenues of $62.4 billion, produced 57.9 million metric tonnes of crude steel and, 42.4 million tonnes of iron ore. Our purpose is to produce smarter steels for people and planet. Steels made using innovative processes which use less energy, emit significantly less carbon and reduce costs. Steels that are cleaner, stronger and reusable. Steels for the renewable energy infrastructure that will support societies as they transform through this century. With steel at our core, our inventive people and an entrepreneurial culture at heart, we will support the world in making that change. ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
http://corporate.arcelormittal.com/