ArcelorMittal Announces the Results of the Invitation for Offers to Sell for Cash Up to the Maximum Acceptance Amount of EUR 500,000,000 0.950% Notes Due 17 January 2023
June 24, 2021 at 11:28 pm EDT
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On 17 June 2021, ArcelorMittal announced the commencement of an invitation (subject to offer restrictions) to holders of the bonds ("Bondholders") set forth in the table below (the "Bonds") to submit offers to sell for cash (each such offer, an "Offer to Sell") ") up to a maximum aggregate principal amount of USD 1,500,000,000 of the Bonds (as converted into U.S. Dollars at the U.S. Dollar /Euro foreign exchange rate determined by the company and the Dealer Managers on 24 June 2021 using the Bloomberg BFIX screen) less the principal amount of USD Notes accepted for purchase pursuant to the Concurrent USD Offer (the "Maximum Acceptance Amount")1 of the Bonds to the company (the "Invitation") on the terms and subject to the conditions set out in the Invitation for Offers dated 17 June 2021 (the "Invitation for Offers"). The Invitation expired at 17.00 hours CEST on 24 June 2021. The Settlement Date is expected to be 29 June 2021. All tenders pursuant to the Invitation will settle through the normal procedures of the relevant Clearing System. On the Settlement Date, the company shall pay or procure that there is paid to each Bondholder which has validly submitted an Offer to Sell accepted for purchase by the company, an amount in cash equal to the Total Consideration. Payment of the relevant Total Consideration, by or on behalf of the company shall fully and finally discharge the company's obligations to the relevant Bondholders in respect of the Bonds delivered and accepted for purchase pursuant to the Invitation and as soon as reasonably practicable following the Settlement Date, such Bonds shall be canceled pursuant to their terms and conditions. Under no circumstances will any additional interest be payable by the company to a Bondholder due to any delay in the transmission of funds from the relevant Clearing System or any intermediary with respect to the Bonds of that Bondholder.
ArcelorMittal is No. 1 worldwide for steelmaking. Net sales break down by activity as follows:
- sale of carbon flat steel (56.6%): spools of hot and cold rolled laminated steel, coated sheets, etc.;
- sale of carbon long steel (20.7%): I-beams, concrete rounds, merchant steels, machine wire, saw wire, steel pilings, mass transit rails, special profiles, and wire drawing products;
- sale of tubular products (3.2%);
- sale of iron ore and coal (1.8%);
- other (17.7%): primarily steel processing, distribution and trading.
The group's products are primarily intended for the following sectors: automotive, household appliances, packaging and construction.
Net sales are distributed geographically as follows: Germany (9.6%), Poland (6.5%), France (6.8%), Spain (5.8%), Europe (23.7%), United States (13%), Americas ( 25.4%), Asia and Africa (9.2%).
ArcelorMittal Announces the Results of the Invitation for Offers to Sell for Cash Up to the Maximum Acceptance Amount of EUR 500,000,000 0.950% Notes Due 17 January 2023