October 14, 2020 08:00 CET– On October 5, 2020,
ArcelorMittal (the “Company” or
“ArcelorMittal”) announced the launch of its
tender offer (the “Offer”) to purchase for cash,
any and all of its outstanding 6.125% notes due 2025 (CUSIP
03938LAZ7/ISIN US03938LAZ76) (the “Notes”) on the
terms and subject to the conditions set out in the offer to
purchase dated October 5, 2020 the “Offer to
Purchase”) and the Notice of Guaranteed Delivery. The
Offer expired at 5:00 p.m., New York City time, on October 13,
2020 (the “Expiration Time”).
The table below sets forth the information with
respect to the Notes and the Offer as well as the aggregate
principal amount of Notes that were validly tendered (including
using the guaranteed delivery procedures set forth herein) and not
validly withdrawn at or prior to 5:00 p.m., New York City time on
October 13, 2020.
Title of Security |
CUSIP/ISIN |
Principal
Amount Tendered(1) |
Outstanding Principal Amount after Settlement of the
Offer |
Tender Consideration(2) |
6.125% notes due 2025 |
03938LAZ7/US03938LAZ76 |
U.S.$249,886,000 |
U.S.$250,114,000 |
U.S.$1,170 |
- Including U.S.$7,812,000 of Notes tendered pursuant to the
guaranteed delivery procedures, for which the delivery of Notes
must be made by no later than 5:00 p.m. on October 15, 2020.
- Per U.S.$1,000 principal amount of Notes validly tendered and
not validly withdrawn. Does not include Accrued Interest (as
defined in the Offer to Purchase) which will be payable to holders
who tender Notes that are accepted for purchase by the
Company.
Subject to the terms and conditions set forth in
the Offer to Purchase, the Company expects to accept for purchase
on October 15, 2020, the amount of Notes validly tendered at or
prior to the Expiration Time, other than Notes tendered using the
guaranteed delivery procedures. Subject to the terms and conditions
set forth in the Offer to Purchase, the Company expects to accept
for purchase on October 16, 2020, the amount of Notes that were
validly tendered using the guaranteed delivery procedures.
Payment of the aggregate consideration for all
such Notes is expected to be made on the Any and All Settlement
Date or on the Guaranteed Delivery Settlement Date, as applicable,
on which date the Company will deposit with DTC the amount of cash
necessary to pay the Tender Consideration plusAccrued Interest in
respect of the Notes accepted for purchase in the Offer.
BBVA Securities Inc., Citigroup Global Markets
Limited, HSBC Bank plc, Mizuho Securities USA LLC and Natixis have
been appointed to serve as dealer managers for the Offer (the
“Dealer Managers”). D.F. King has been retained to serve as the
information agent and tender agent in connection with the Offer.
For additional information regarding the terms
of the Offer, please contact BBVA Securities Inc. by email at
liabilitymanagement@bbva.com or by telephone at +44 20 7397 6061
(London) or +1 800 422 8692 (toll free within the U.S.) or +1 212
728 2446 (collect), Citigroup Global Markets Limited by e-mail at
liabilitymanagement.europe@citi.com or by telephone at +44 20 7986
8969 (London) or +1 800 558 3745 (toll free within the U.S.) or +1
212 723 6106 (collect), HSBC Bank plc by email at
liability.management@hsbcib.com or telephone at +44 20 7992 6237
(London), +1 888 HSBC 4LM (+1 888 472 2456) (toll free within the
U.S.) or +1 212 525 5552 (collect), Mizuho Securities USA LLC by
telephone at +44 20 7090 6134 (London) or +1 866 271 7403 (toll
free within the U.S.) or +1 212 205 7736 (collect) or Natixis by
email at nydebtcapitalmarkets@natixis.com or telephone at +1 212
698 3108 (collect). Requests for documents and questions regarding
the tender of Notes may be directed to D.F. King via e-mail:
arcelormittal@dfkingltd.com or telephone: New York: +1 877 536-1561
(toll free within U.S.) or at + 1 212 269 5550
(collect) or +44 20 7920 9700 (London).
Capitalized terms used and not defined herein
have the meanings ascribed to them in the Offer to Purchase.
Important Information
This press release is neither an offer to
purchase nor a solicitation to buy any Notes nor is it a
solicitation for acceptance of the Offer. This announcement must be
read in conjunction with the Offer to Purchase and the announcement
dated October 5, 2020. The distribution of this announcement and
the Offer to Purchase in certain jurisdictions may be restricted by
law. Persons into whose possession this announcement or the Offer
to Purchase comes are required by each of the Company, the Dealer
Managers and the Information and Tender Agent to inform themselves
about and to observe any such restrictions.
###
United Kingdom. This
announcement, the Offer to Purchase and any other documents or
offering materials relating to the Offer are for distribution only
to persons who (i) are outside the United Kingdom; (ii) have
professional experience in matters relating to investments falling
within Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (as amended, the
“Order”); (iii) are persons falling within Article
49(2)(a) to (d) ("high net worth companies, unincorporated
associations etc.") of the Order; (iv) are members or creditors of
certain bodies corporate as defined by or within Article 43(2) of
the Order; or (v) are persons to whom an invitation or inducement
to engage in investment activity (within the meaning of section 21
of the Financial Services and Markets Act 2000) in connection with
the issue or sale of any securities may otherwise lawfully be
communicated or caused to be communicated (all such persons
together being referred to as “relevant persons”). This
announcement and the Offer to Purchase are directed only at
relevant persons and must not be acted or relied on by persons who
are not relevant persons. Any investment or investment activity to
which this document relates is available only to relevant persons
and will be engaged in only with relevant persons.European
Economic Area and the United Kingdom. In any European
Economic Area (“EEA”) member state and the United
Kingdom (each, a “Relevant State”), this
announcement and the Offer to Purchase are only addressed to and
are only directed at qualified investors within the meaning of
Regulation (EU) 2017/1129 (as amended or superseded) (the
“Prospectus Regulation”), in that Relevant State.
Each person in a Relevant State who receives any communication in
respect of the Offer contemplated in the Offer to Purchase will be
deemed to have represented, warranted and agreed to and with the
Dealer Managers and the Company that it is a qualified investor
within the meaning of Article 2(e) of the Prospectus
Regulation.
France. The Offer to Purchase
nor any other documents or offering materials relating to the Offer
have been distributed or caused to be distributed and will not be
distributed or caused to be distributed in France, other than to
qualified investors (investisseurs qualifiés), as defined in
Article L. 411-2 1° of the French Code monétaire et financier and
in Article 2(e) of the Prospectus Regulation. Neither the Offer to
Purchase, nor any other such offering material has been submitted
for clearance to the Autorité des marchés financiers. By
participating in the Offer, an investor resident and/or located in
France will be deemed to represent and warrant to the Company, the
Dealer Managers and the Information and Tender Agent that it is a
qualified investor.
Italy. None of the Offer, the
Offer to Purchase or any other documents or materials relating to
the Offer have been or will be submitted to the clearance
procedures of the Commissione Nazionale per le Società e la Borsa
(“CONSOB”), pursuant to applicable Italian laws
and regulations.
The Offer is being carried out in the Republic
of Italy (“Italy”) as an exempted offer pursuant
to article 101-bis, paragraph 3-bis of Legislative Decree No. 58 of
February 24, 1998, as amended (the “Consolidated
Financial Act”) and article 35-bis, paragraph 4 of
CONSOB Regulation No. 11971 of May 14, 1999, as amended (the
“Issuer’s Regulation”). The Offer is also being
carried out in compliance with article 35-bis, paragraph 7 of the
Issuers’ Regulation.
Holders or beneficial owners of the Notes
located in Italy may tender the Notes in the Offer through
authorized persons (such as investment firms, banks or financial
intermediaries permitted to conduct such activities in Italy in
accordance with the Consolidated Financial Act, CONSOB Regulation
No. 20307 of February 15, 2018, as amended, and Legislative Decree
No. 385 of September 1, 1993, as amended from time to time, and
Legislative Decree No. 385 of September 1, 1993, as amended) and in
compliance with applicable laws and regulations or with
requirements imposed by CONSOB or any other Italian authority. Each
intermediary must comply with the applicable laws and regulations
concerning information duties vis-à-vis its clients in connection
with the Notes or the Offer.This announcement contains inside
information for the purposes of Article 7 of Regulation (EU) No
596/2014.
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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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 20 7543 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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