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.
Arcelor Mittal (NYSE:MT)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Arcelor Mittal Charts.
Arcelor Mittal (NYSE:MT)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Arcelor Mittal Charts.