ArcelorMittal gets tenders for $410.65 million 9.85% notes due 2019

By Susanna Moon

Chicago, May 19 – ArcelorMittal SA said investors had tendered $410,651,000 of its $1.5 billion outstanding 9.85% notes due June 1, 2019 by the end of the offer at 5 p.m. ET on May 18.

The tendered amount includes $5,435,000 principal amount of notes tendered under the guaranteed delivery procedures, according to a company announcement.

The purchase price will be $1,170 for each $1,000 principal amount plus accrued interest to but excluding the settlement date of May 19. Notes tendered using the guaranteed delivery procedures will be accepted for purchase on May 23.

As announced May 11, ArcelorMittal was tendering for any and all of its 9.85% notes, which have an interest rate that has increased to 10.85% under the note terms.

ArcelorMittal will fund the offer with cash, including proceeds of its rights offering that closed on April 8.

The tender offer was being made to reduce debt through the early repayment of medium-term maturing bonds, the company previously said.

Barclays (800 438-3242, 212 528-7581 or +44 20 3134 8515 or liability.management@barclays.com), BNP Paribas (888 210-4358 or 212 841-3059), Citigroup Global Markets Ltd. (+44 20 7986 8969, 800 558-3745, 212 723-6106 or liabilitymanagement.europe@citi.com) and J.P. Morgan Securities LLC (866 834-4666 or 212 834-3424) are the dealer managers. D.F. King (+44 0 20 7920 9700, 800 814-4284 or 212 269 5550, +852 3953 7230, arcelor@dfkingltd.com or dfking.com/arcelor) is the information agent and tender agent.

ArcelorMittal is a Luxembourg-based steel producer.

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