ArcelorMittal Announces Final Results of its Offers to Purchase for Cash Up to $600,000,000 Aggregate Principal Amount of its Outstanding Notes Listed Below
(Thomson Reuters ONE) -
ArcelorMittal S.A. /
ArcelorMittal Announces Final Results of its Offers to Purchase for Cash Up to
$600,000,000 Aggregate Principal Amount of its Outstanding Notes Listed Below
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The issuer is solely responsible for the content of this announcement.
Title of Principal Amount Clearing Tender
Security CUSIP/ISIN Tendered Premium((1)) Consideration((2))
5.125% Notes
due June 03938LAY0/
1, 2020 US03938LAY02 $113,252,000((5)) $42.50 $1,001.25
5.250% notes
due August 03938LAQ7/
5, 2020((3)) US03938LAQ77 $146,594,000((6)) $42.50 $1,013.75
5.500% notes
due March 03938LAU8/
1, 2021((4)) US03938LAU89 $323,350,000((7)) $42.50 $1,003.75
1. Per $1,000 principal amount of Notes validly tendered. Determined in
accordance with the modified "Dutch Auction" procedure described in the
section "The Offers-Description of the Offers-Clearing Premium and Total
Consideration" in the Offer to Purchase (as defined herein).
2. Per $1,000 principal amount of Notes validly tendered after the Early Tender
Time and at or prior to the Expiration Time. Does not include the Early
Tender Premium (as defined herein). Does not include Accrued Interest (as
defined herein).
3. The interest rate on the August 2020 Notes increased pursuant to an interest
adjustment clause applicable to the August 2020 Notes and is currently
6.250%.
4. The interest rate on the 2021 Notes increased pursuant to an interest
adjustment clause applicable to the 2021 Notes and is currently 6.500%.
5. Including $110,936,000 aggregate principal amount of the June 2020 Notes
that were tendered at or prior to the Early Tender Time and accepted for
purchase by the Company, for which the Company paid the Total Consideration,
plus any accrued interest, on the Early Settlement Date.
6. Including $144,901,000 aggregate principal amount of the August 2020 Notes
that were tendered at or prior to the Early Tender Time and accepted for
purchase by the Company, for which the Company paid the Total Consideration,
plus any accrued interest, on the Early Settlement Date.
7. Including $320,464,000 aggregate principal amount of the 2021 Notes that
were tendered at or prior to the Early Tender Time and accepted for purchase
by the Company, for which the Company paid the Total Consideration, plus any
accrued interest, on the Early Settlement Date.
July 13, 2016 - ArcelorMittal (the "Company" or "ArcelorMittal") announces the
expiration and the final results of its tender offers (the "Offers") to purchase
for cash up to the Maximum Tender Amount (as defined herein) in the aggregate of
its outstanding 5.125% Notes due June 1, 2020 (CUSIP 03938LAY0/ ISIN
US03938LAY02) (the "June 2020 Notes"), 5.250% notes due August 5, 2020 (CUSIP
03938LAQ7/ ISIN US03938LAQ77) (the "August 2020 Notes") and 5.500% notes due
March 1, 2021 (CUSIP 03938LAU8/ ISIN US03938LAU89) (the "2021 Notes" and,
together with the June 2020 Notes and the August 2020 Notes, the "Notes").
The Offer was made pursuant to an offer to purchase dated June 14, 2016 (the
"Offer to Purchase"), which contains the full terms and conditions of the
Offers. The Offers expired at 11:59 p.m., New York City time, on July 12, 2016.
On June 29, 2016 (the "Early Settlement Date"), the Company made a payment in
cash for all Notes tendered at or prior to 5:00 p.m., New York City time, on
June 27, 2016 (such time, the "Early Tender Time") and not validly withdrawn. As
of the Early Tender Time, the Company had received tenders in respect of
$110,936,000 aggregate principal amount of June 2020 Notes, $144,901,000
aggregate principal amount of August 2020 Notes and $320,464,000 aggregate
principal amount of 2021 Notes. The Holders of such tendered Notes received a
Total Consideration of $1,051.25 per $1,000 principal amount of June 2020 Notes
tendered, $1,063.75 per $1,000 principal amount of August 2020 Notes tendered
and $1,053.75 per $1,000 principal amount of 2021 Notes tendered. In each case,
the Total Consideration included an early tender premium of $50 per $1,000
principal amount of Notes (the "Early Tender Premium"). Holders of such tendered
Notes also received accrued and unpaid interest from, and including, the
immediately preceding interest payment date applicable to such Notes to, but
excluding, the Early Settlement Date. The total cash payment for Notes accepted
pursuant to the Offers on the Early Settlement Date, including the amounts in
respect of the relevant accrued interest, was $619,341,241 (excluding related
fees).
After the Early Tender Time and at or prior to the Expiration Time, the Company
received tenders in respect of $2,316,000 aggregate principal amount of June
2020 Notes, $1,693,000 aggregate principal amount of August 2020 Notes and
$2,886,000 aggregate principal amount of 2021 Notes, all of which are expected
to be accepted for purchase pursuant to the Offers.
The Company expects to pay Holders of such Notes tendered after the Early Tender
Time and at or prior to the Expiration Time and accepted pursuant to the Offers
a Tender Consideration of $1,001.25 per $1,000 principal amount of June 2020
Notes tendered, $1,013.75 per $1,000 principal amount of August 2020 Notes
tendered and $1,003.75 per $1,000 principal amount of 2021 Notes tendered. The
Company also expects to pay the Holders of such accepted Notes accrued and
unpaid interest from, and including, the immediately preceding interest payment
date applicable to such Notes to, but excluding, the Final Settlement Date (the
"Accrued Interest").
Subject to the terms and conditions set forth in the Offer to Purchase, with
respect to Notes validly tendered after the Early Tender Time but at or prior to
the Expiration Time and accepted for purchase pursuant to the Offers, the
Company expects to pay the Tender Consideration, together with any Accrued
Interest, to the Holders thereof on the second Business Day after the Expiration
Time (such date the "Final Settlement Date").
ArcelorMittal funded the Offers with existing cash resources. The Offers were
made to reduce gross debt through the early repayment of medium-term maturing
bonds.
Barclays Capital Inc., BNP Paribas, Citigroup Global Markets Limited and J.P.
Morgan Securities LLC acted as dealer managers for the Offers. D.F. King acted
to serve as the information agent and tender agent in connection with the
Offers.
For additional information regarding the terms of the Offers, please contact
Barclays Capital Inc. by email at liability.management(at)barclays.com or by
telephone at +1 800 438 3242 (toll free within the U.S.), collect at
+1 212 528 7581 or +44 20 3134 8515 (London), BNP Paribas at +1 888 210 4358
(toll free within the U.S.) or collect at +1 212 841 3059, Citigroup Global
Markets Limited by email at liabilitymanagement.europe(at)citi.com or by telephone
at +44 20 7986 8969 (London), +1 800 558 3745 (toll free within the U.S.) or
collect at +1 212 723 6106 or J.P. Morgan Securities LLC at +1 866 834 4666
(toll free within the U.S.) or collect at +1 212 834 3424. Requests for
documents and questions regarding the tender of Notes may be directed to D.F.
King via email: arcelor(at)dfkingltd.com or telephone: London: +44 (0)20
7920 9700, New York: +1 800 814 4284 (toll free within U.S.) or collect at +
1 212 269 5550, and Hong Kong: +852 3953 7230.
Capitalized terms used and not defined herein have the meanings ascribed to them
in the Offer to Purchase.
About ArcelorMittal
ArcelorMittal is the world's leading steel and mining company, with a presence
in 60 countries and an industrial footprint in 19 countries. Guided by a
philosophy to produce safe, sustainable steel, we are the leading supplier of
quality steel in the major global steel markets including automotive,
construction, household appliances and packaging, with world-class research and
development and outstanding distribution networks.
Through our core values of sustainability, quality and leadership, we operate
responsibly with respect to the health, safety and wellbeing of our employees,
contractors and the communities in which we operate.
For us, steel is the fabric of life, as it is at the heart of the modern world
from railways to cars and washing machines. We are actively researching and
producing steel-based technologies and solutions that make many of the products
and components people use in their everyday lives more energy efficient.
We are one of the world's five largest producers of iron ore and metallurgical
coal and our mining business is an essential part of our growth strategy. With a
geographically diversified portfolio of iron ore and coal assets, we are
strategically positioned to serve our network of steel plants and the external
global market. While our steel operations are important customers, our supply to
the external market is increasing as we grow.
In 2015, ArcelorMittal had revenues of US$63.6 billion and crude steel
production of 92.5 million tonnes, while own iron ore production reached 62.8
million tonnes.
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).
For more information about ArcelorMittal please visit:
http://corporate.arcelormittal.com/
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|Contact information ArcelorMittal Corporate |
|Communications |
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|E-mail: press(at)arcelormittal.com|
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|Phone: +442076297988 |
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|ArcelorMittal Corporate Communications |
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|Sophie Evans +442032142882 |
|Paul Weigh +442032142419 |
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|Sylvie Dumaine / Anne-Charlotte Creach +33153707470 |
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Unternehmensinformation / Kurzprofil:
Datum: 13.07.2016 - 14:58 Uhr
Sprache: Deutsch
News-ID 483150
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