ArcelorMittal announced on Wednesday the launch of a bond issue for a total of one billion euros, to be used in particular to refinance its debt.

The first four-year tranche (maturing in 2028) totals 500 million euros and carries a fixed interest rate of 3.125%, while the second seven-year tranche (maturing in 2031) totals 500 million euros and carries a fixed interest rate of 3.50%, the steelmaker said in a press release.

Arcelor specifies that the securities were issued as part of its €10 billion 'Euro Medium Term Notes' wholesale program.

In addition to refinancing its existing debt, the transaction will enable the steel specialist to meet its general cash flow requirements.

The issue is scheduled to close on December 13.

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