ArcelorMittal to raise $1.5 bn via debt securities
   
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ArcelorMittal to raise $1.5 bn via debt securities

Last Updated: Thursday, February 23, 2012, 23:08
 
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ArcelorMittal to raise $1.5 bn via debt securities
London/New Delhi: World's largest steel producer ArcelorMittal on Thursday announced it would raise USD 1.5 billion through issue of debt securities.

As per the offer, the company will launch a cash tender offer to purchase any/all of USD 5.375 percent Notes due 2013 from today, the company said in a statement, adding that it would close on March 1.

To finance the issue, ArcelorMittal would be offering three year, five year and ten year bonds, the statement said.

The money raised will be used to retire "all or a portion" of the debt raised earlier through similar instruments, it added.

The company has appointed J P Morgan Securities LLC as the deal manager for the offer and D F King and CO as information agent.

PTI



First Published: Thursday, February 23, 2012, 23:08


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