ArcelorMittal extends conversion date for $1bn mandatory convertible bond
December 22 2020 - 11:30AM
22 December 2020 17:30 CET
ArcelorMittal announces the extension of the conversion date for
the $1 billion privately placed mandatory convertible bond (MCB)
issued on 28 December 2009 by one of its wholly-owned Luxembourg
subsidiaries.
This amendment to the MCB, which is mandatorily convertible into
preferred shares of such subsidiary, was executed on 22 December
2020. The mandatory conversion date of the bond has been extended
to 31 January 2024. The other main features of the MCB remain
unchanged. The bond was placed privately with Credit Agricole
Corporate and Investment Bank and is not listed.
The subsidiary has simultaneously executed amendments providing
for the extension of the outstanding notes into which it invested
the proceeds of the bond issuance, which are linked to shares of
the listed company China Oriental Group Company Limited, which is
held by an ArcelorMittal subsidiary.
ENDS
About ArcelorMittal
ArcelorMittal is the world's leading steel and
mining company, with a presence in 60 countries and primary
steelmaking facilities in 18 countries. In 2019, ArcelorMittal had
revenues of U.S.$70.6 billion and crude steel production of 89.8
million metric tonnes, while iron ore production reached 57.1
million metric tonnes.
Our goal is to help build a better world with
smarter steels. Steels made using innovative processes which use
less energy, emit significantly less carbon and reduce costs.
Steels that are cleaner, stronger and reusable. Steels for electric
vehicles and renewable energy infrastructure that will support
societies as they transform through this century. With steel at our
core, our inventive people and an entrepreneurial culture at heart,
we will support the world in making that change. This is what we
believe it takes to be the steel company of the future.
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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