ArcelorMittal readies two-part offering of notes

Chicago, Nov. 21 – ArcelorMittal is in the market with a two-tranche offering of dollar-denominated notes, according to a 424B5 filing with the Securities and Exchange Commission.

The notes have make-whole calls and par calls.

Any change of control would trigger a put at 101.

BofA Securities, Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Mizuho Securities USA LLC are global coordinators.

Commerz Markets LLC, Credit Agricole Securities (USA) Inc., HSBC Securities (USA) Inc., RBC Capital Markets, LLC, SMBC Nikko Securities America, Inc. and UniCredit Capital Markets LLC are joint bookrunners.

Wilmington Trust, NA is the trustee.

The company is using Elvinger Hoss Prussen and Cleary Gottlieb Steen & Hamilton LLP for counsel. Shearman & Sterling (London) LLP is advising the underwriters.

Proceeds will be used for general corporate purposes. Proceeds over $400 million will be used to reduce borrowings on the company’s bridge facility used for the acquisition of CSP.

ArcelorMittal is a Luxembourg-based steel producer and mining company.

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