ArcelorMittal extends conversion date for $1bn mandatory convertible bond
Luxembourg, 21 January 2014 - ArcelorMittal announces the extension of the
conversion date for the $1bn 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 16 January 2014. The mandatory
conversion date of the bond has been extended to 29 January 2016. The other main
features of the MCB remain unchanged. The bond was placed privately with a
Luxembourg affiliate of 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 companies Eregli Demir
Va Celik Fab. T. AS of Turkey and China Oriental, both of which are held by
ArcelorMittal subsidiaries.
About ArcelorMittal
ArcelorMittal is the world's leading steel and mining company, with a presence
in more than 60 countries and an industrial footprint in over 20 countries.
Guided by a philosophy to produce safe, sustainable steel, we are the leading
supplier of quality steel in the major global steel markets including
automotive, construction, household appliances and packaging, with world-class
research and development and outstanding distribution networks.
Through our core values of sustainability, quality and leadership, we operate
responsibly with respect to the health, safety and wellbeing of our employees,
contractors and the communities in which we operate.
For us, steel is the fabric of life, as it is at the heart of the modern world
from railways to cars and washing machines. We are actively researching and
producing steel-based technologies and solutions that make many of the products
and components we use in our everyday lives more energy-efficient.
We are one of the world's five largest producers of iron ore and metallurgical
coal and our mining business is an essential part of our growth strategy. With a
geographically diversified portfolio of iron ore and coal assets, we are
strategically positioned to serve our network of steel plants and the external
global market. While our steel operations are important customers, our supply to
the external market is increasing as we grow.
In 2012, ArcelorMittal had revenues of $84.2 billion and crude steel production
of 88.2 million tonnes, while iron ore production reached 55.9 million tonnes.
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: www.arcelormittal.com.
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|Contact information ArcelorMittal Investor Relations  |
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|Europe + 352 4792 3198 |
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|Contact information ArcelorMittal Corporate  |
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|E-mail: press@arcelormittal.com|
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|Phone: +352 4792 5000 |
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|ArcelorMittal Corporate Communications  |
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|Sophie Evans (head of media relations) +44 20 3214 2882 |
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|Laura Nutt +44 20 7543 1125 |
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|United Kingdom  |
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|Martin Leeburn + 44 20 7379 5151 |
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|France  |
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|Sylvie Dumaine / Anne-Charlotte Creach + 33 1 5370 7470 |
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