ArcelorMittal announces the completion of a “tap issue” of €250 million, with a yield to maturity of 0.984%, of its 2.2...
July 04 2019 - 08:15AM
Luxembourg, 4 July 2019, 14:15 CET
ArcelorMittal announces the completion of an issuance of €250
million of its 2.250% notes due 17 January 2024 (the “Notes”),
which will be consolidated and form a single series with the
existing €750 million 2.250 per cent. notes due 17 January 2024,
originally issued on 17 January 2019. At the time of pricing the
“tap” issuance, the yield to maturity (representing the actual
annual cost of the issuance for ArcelorMittal) was 0.984%.
The issuance closed today. The Notes were issued under
ArcelorMittal’s €10 billion wholesale Euro Medium Term Notes
Programme.
The proceeds of the issuance will be used for general corporate
purposes.
Important note: This press release does not, and
shall not, in any circumstances constitute a public offering by
ArcelorMittal of the Notes nor an invitation to the public in
connection with any offer. No communication and no information in
respect of the issuance of the Notes may be distributed to the
public in any jurisdiction where a registration or approval is
required. No steps have been or will be taken in any jurisdiction
where such steps would be required. The offering or purchase of the
Notes may be subject to specific legal or regulatory restrictions
in certain jurisdictions. ArcelorMittal takes no responsibility for
any violation of any such restrictions by any person.
This press release is an advertisement and not a
prospectus within the meaning of Directive 2003/71/EC of the
European Parliament and the Council of November 4th, 2003 (as
amended and supplemented from time to time, including by Directive
2010/73/EU and any relevant implementing measures in any member
State of the European Economic Area (the "Member States")), (the
"Prospectus Directive"). The base prospectus of the €10 billion
wholesale Euro Medium Term Note Programme of ArcelorMittal dated as
of 29 May 2019 and the supplement to the base prospectus
dated 21 June 2019 which together constitute a base
prospectus (the “Base Prospectus”) and the final terms prepared by
the Issuer in connection with the issuance of the Notes have been
prepared on the basis that any offer of Notes in any Member State
of the European Economic Area (each, a "Relevant Member State")
will be made pursuant to an exemption under the Prospectus
Directive, as implemented in that Relevant Member State, from the
requirement to publish a prospectus for offers of the Notes. In any
Relevant Member State that has implemented the “Prospectus
Directive, this communication is only addressed to and directed at
qualified investors in that Member State within the meaning of the
Prospectus Directive.Accordingly, any person making or intending to
make an offer in that Relevant Member State of the Notes may only
do so in circumstances in which no obligation arises for the Issuer
or the joint lead managers acting in connection with the issuance
of the Notes to publish a prospectus pursuant to Article 3 of the
Prospectus Directive or supplement a prospectus pursuant to Article
16 of the Prospectus Directive, in each case, in relation to such
offer. The Issuer and the joint lead managers acting in connection
with the issuance of the Notes have not authorized the making of
any offer of Notes in any other circumstances. The Base Prospectus
and the final terms referred to above have been filed with the
Commission de Surveillance du Secteur Financier of Luxembourg and
the Luxembourg Stock Exchange, respectively.
This press release is not an invitation nor is
it intended to be an inducement to engage in investment activity
for the purpose of Section 21 of the Financial Services and Markets
Act 2000 of the United Kingdom (the "FSMA"). This press release is
only being distributed to and is only directed at (i) persons who
are outside the United Kingdom; (ii) persons who are investment
professionals falling within the meaning of Article 19(5) of
the Financial Services and Markets Act 2000 (Financial Promotion)
Order 2005 (as amended) of the United Kingdom (the "Financial
Promotion Order"); or (iii) high net worth entities, and other
persons to whom it may lawfully be communicated, falling within
Article 49(2)(a) to (d) of the Financial Promotion Order (all such
persons together being referred to as "Relevant Persons"). Any
Notes will only be available to, and any invitation, offer,
agreement to subscribe, purchase or otherwise acquire such Notes,
or inducement to engage in any investment activity included within
this press release is available only to Relevant Persons and will
be engaged in only with Relevant Persons. Anyone other than a
Relevant Person must not act or rely on this press release or any
of its contents.
Solely for the purposes of the product
governance requirements of Directive 2014/65/EU on financial
instruments, as amended (“MiFID II”) and local implementing
measures and each manufacturer’s product approval process, the
target market assessment in respect of the Notes has led to the
conclusion that: (i) the target market for the Notes is eligible
counterparties and professional clients only, each as defined in
MiFID II; and (ii) all channels for distribution of the Notes to
eligible counterparties and professional clients are appropriate
(the “Target Market Assessment”). Any person subsequently offering,
selling or recommending the Notes (a “distributor”) should take
into consideration the manufacturers’ Target Market Assessment;
however, a distributor subject to MiFID II is responsible for
undertaking its own target market assessment in respect of the
Notes (by either adopting or refining the manufacturers’ target
market assessment) and determining appropriate distribution
channels.
Notwithstanding the Target Market Assessment, distributors
should note that: the price of the Notes may decline and investors
could lose all or part of their investment; the Notes offer no
guaranteed income and no capital protection; and an investment in
the Notes is compatible only with investors who do not need a
guaranteed income or capital protection, who (either alone or in
conjunction with an appropriate financial or other adviser) are
capable of evaluating the merits and risks of such an investment
and who have sufficient resources to be able to bear any losses
that may result therefrom. The Target Market Assessment is without
prejudice to any contractual, legal or regulatory selling
restrictions in relation to the offering.
For the avoidance of doubt, the Target Market
Assessment does not constitute: (a) an assessment of suitability or
appropriateness for the purposes of MiFID II; or (b) a
recommendation to any investor or group of investors to invest in,
or purchase, or take any other action whatsoever with respect to
the Notes.
This press release does not constitute an offer
to sell or a solicitation of an offer to purchase any securities in
the United States. The Notes have not been and will not be
registered under the U.S. Securities act of 1933, as amended (the
"Securities Act") or the laws of any state within the U.S., and may
not be offered or sold in the United States or to or for the
account or benefit of U.S. Persons, except in a transaction not
subject to, or pursuant to an applicable exemption from, the
registration requirements of the Securities Act or any state
securities laws. This press release and the information contained
herein may not be distributed or sent into the United States, or in
any other jurisdiction in which offers or sales of the Notes would
be prohibited by applicable laws and should not be distributed to
United States persons or publications with a general circulation in
the United States. No offering of the Notes has been made or will
be made in the United States.
Ends
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. 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 2018, ArcelorMittal had revenues of $76.0
billion and crude steel production of 92.5 million metric tonnes,
while own iron ore production reached 58.5 million metric
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 Investor
Relations |
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Europe |
+44 20 7543 1156 |
Americas |
+1 312 899 3985 |
Retail |
+44 20 7543 1156 |
SRI |
+44 207543 1156 |
Bonds/Credit |
+33 171 921 026 |
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Contact information ArcelorMittal Corporate
Communications |
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E-mail: |
press@arcelormittal.com |
Phone: |
+442076297988 |
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ArcelorMittal Corporate Communications |
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Paul Weigh |
+44 20 3214 2419 |
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