Arcelormittal Announces Result of Its Offer to Purchase for Cash Any and All of Its 3.600% Notes Due 2024, 6.125% Notes Due 2025 and 4.550% Notes Due 2026
June 17, 2021 at 08:45 am EDT
Share
ArcelorMittal announced the launch of its tender offer to purchase for cash, any and all of its series of 3.600% notes due 2024, its series of 6.125% notes due 2025 and its series of 4.550% notes due 2026. Following the consummation of the offers, the notes that are purchased by the company in the offers will be retired and cancelled and no longer remain outstanding. This announcement does not contain the full terms and conditions of the offers, which are contained in the offer to purchase dated June 17, 2021 and the notice of guaranteed delivery, and is subject to the offer restrictions set out below and more fully described in the offer to purchase. Notes may be validly tendered at any time on or before 5:00 p.m., New York City time, on June 24, 2021, unless extended or earlier terminated (as may be extended or earlier terminated, the expiration time). Notes must be tendered in accordance with the procedures set forth in the offer to purchase. Subject to certain conditions, holders may tender notes in the offers pursuant to guaranteed delivery procedures by transmitting a notice of guaranteed delivery to the tender agent prior to the expiration time, as described in more detail in the section the offers—procedures for tendering notes—guaranteed delivery procedure for notes in the offer to purchase. With respect to the notes validly tendered prior to the expiration date and not validly withdrawn and accepted for purchase by the company, other than notes tendered pursuant to the guaranteed delivery procedures, the company expects to pay the notes tender consideration (the tender consideration), which is the U.S. dollar amount payable per USD 1,000 principal amount of the notes, together with any accrued interest, to the holders thereof on the third business day after the expiration time (the any and all settlement date). No early participation amount will be payable on the notes. With respect to notes tendered pursuant to the guaranteed delivery procedures and accepted for purchase by the company, if any, the company expects to pay the tender consideration, together with any accrued interest, to the holders thereof on the third business day after the expiration time. For the avoidance of doubt, interest will cease to accrue on the any and all settlement date for all notes accepted in the offers, including any notes tendered by the guaranteed delivery procedures. The tender consideration will be payable in cash. in addition to the tender consideration, holders who tender notes that are accepted for purchase by the company pursuant to the offers will also be paid accrued and unpaid interest from, and including, the immediately preceding interest payment date for the notes to, but excluding, the any and all settlement date (the accrued interest). Notes tendered may only be withdrawn at or prior to 5:00 p.m., New York City time, on June 24, 2021 (such date and time, as the same may be extended, the withdrawal deadline) but, except as otherwise provided, not thereafter.
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 Result of Its Offer to Purchase for Cash Any and All of Its 3.600% Notes Due 2024, 6.125% Notes Due 2025 and 4.550% Notes Due 2026