By Alex MacDonald

 

LONDON--Steel giant ArcelorMittal said Tuesday its U.S. unit has given notice to its noteholders of its plan to redeem $1.4 billion of notes with a 4.5% coupon that are due to expire on February 25, 2017.

The Luxembourg-based steelmaker, the world's largest steel producer by production capacity, said it would fund the redemption with proceeds from its $3 billion rights offering in April.

 

Write to Alex MacDonald at alex.macdonald@wsj.com

 

(END) Dow Jones Newswires

April 26, 2016 12:00 ET (16:00 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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