ArcelorMittal to issue make-whole call for $850.88 million 9.85% notes

By Susanna Moon

Chicago, March 1 – ArcelorMittal SA will redeem its $850,879,000 of outstanding 9.85% notes due June 1, 2019.

The notes will be redeemed on April 3 at a redemption price equal to the greater of par and the sum of the present values of the remaining scheduled payments of the notes to be redeemed, discounted to the redemption date on a semiannual basis plus 50 basis points, in each case plus accrued interest to the redemption date, according to a company notice.

As announced, investors had tendered $240,902,000 of the $1,091,781,000 outstanding 9.85% notes in the tender that was held last September.

The purchase price was $1,217.50 for each $1,000 principal amount.

ArcelorMittal is a steel and mining company based in Luxembourg.

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