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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| ArcelorMittal | EU:MT | Euronext | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.37 | -1.54% | 23.68 | 23.66 | 23.67 | 23.96 | 23.67 | 23.95 | 657,908 | 14:29:18 |
From Apr 2019 to Apr 2024
By Alex MacDonald
LONDON--ArcelorMittal (MT) on Monday launched two tender offers to buy back up to $3.2 billion in notes due between 2017 and 2018 with cash raised from its recent $3 billion rights issue.
The Luxembourg-based steelmaker, the world's largest by steel shipments, offered to buy back $1.5 billion in outstanding notes due in 2018 that have a 6.125% annual coupon payment.
In a second tender, it offered to buy back 1 billion euros ($1.14 billion)in notes due on Nov. 17, 2017 with a 4.625% annual coupon and EUR500 million in notes due on March 29, 2018 with a 4.5% annual coupon.
The company said it will fund the debt repurchase with cash raised from its recent rights offering that closed on April 8.
The two tenders are forecast to close on April 18 and April 19 respectively.
Write to Alex MacDonald at alex.macdonald@wsj.com
(END) Dow Jones Newswires
April 11, 2016 11:16 ET (15:16 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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