ArcelorMittal Announces the Results of its Offer to Purchase for Cash Any and All of its 6.125% Notes due 2025

en

On October 5, 2020, ArcelorMittal (the “Company” or “ArcelorMittal”) announced the launch of its tender offer (the “Offer”) to purchase for cash, any and all of its outstanding 6.125% notes due 2025 (CUSIP 03938LAZ7/ISIN US03938LAZ76) (the “Notes”) on the terms and subject to the conditions set out in the offer to purchase dated October 5, 2020 the “Offer to Purchase”) and the Notice of Guaranteed Delivery. The Offer expired at 5:00 p.m., New York City time, on October 13, 2020 (the “Expiration Time”).

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14/10/2020 |
  • AM

The table below sets forth the information with respect to the Notes and the Offer as well as the aggregate principal amount of Notes that were validly tendered (including using the guaranteed delivery procedures set forth herein) and not validly withdrawn at or prior to 5:00 p.m., New York City time on October 13, 2020.

Title of Security                               6.125% notes due 2025

CUSIP/ISIN                                     03938LAZ7/US03938LAZ76

Principal Amount Tendered [1]       U.S.$249,886,000

Outstanding Principal Amount        U.S.$250,114,000

Tender Consideration [2]                 U.S.$1,170

[1] Including U.S.$7,812,000 of Notes tendered pursuant to the guaranteed delivery procedures, for which the delivery of Notes must be made by no later than 5:00 p.m. on October 15, 2020.

[2] Per U.S.$1,000 principal amount of Notes validly tendered and not validly withdrawn. Does not include Accrued Interest (as defined in the Offer to Purchase) which will be payable to holders who tender Notes that are accepted for purchase by the Company.

Subject to the terms and conditions set forth in the Offer to Purchase, the Company expects to accept for purchase on October 15, 2020, the amount of Notes validly tendered at or prior to the Expiration Time, other than Notes tendered using the guaranteed delivery procedures. Subject to the terms and conditions set forth in the Offer to Purchase, the Company expects to accept for purchase on October 16, 2020, the amount of Notes that were validly tendered using the guaranteed delivery procedures.

Payment of the aggregate consideration for all such Notes is expected to be made on the Any and All Settlement Date or on the Guaranteed Delivery Settlement Date, as applicable, on which date the Company will deposit with DTC the amount of cash necessary to pay the Tender Consideration plus Accrued Interest in respect of the Notes accepted for purchase in the Offer.

BBVA Securities Inc., Citigroup Global Markets Limited, HSBC Bank plc, Mizuho Securities USA LLC and Natixis have been appointed to serve as dealer managers for the Offer (the “Dealer Managers”). D.F. King has been retained to serve as the information agent and tender agent in connection with the Offer.   

 

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