ArcelorMittal Launches Offer to Buy Back All $1.5 Billion in Notes Due June 2019
May 11 2016 - 10:23AM
Dow Jones News
By Alex MacDonald
LONDON--ArcelorMittal (MT) said Wednesday it has launched an
offer to buy back all $1.5 billion in notes due in June 2019.
The notes have an annual coupon of 9.85% and must be tendered up
until May 18 to qualify for the offer.
The Luxembourg-based steelmaker, the world's largest by output,
said it would fund the purchase with cash raised from its $3.2
billion rights issue in April.
The company had net debt of $17.3 billion as of the end of
March.
Write to Alex MacDonald at alex.macdonald@wsj.com
(END) Dow Jones Newswires
May 11, 2016 10:08 ET (14:08 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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