Shearman And Sterling

News May 19, 2020

ArcelorMittal’s $2 Billion Ordinary Shares and Convertible Notes Offerings

Shearman & Sterling advised the underwriters (led by BNP Paribas, Crédit Agricole CIB, Goldman Sachs & Co. LLC, J.P. Morgan and Société Générale) on ArcelorMittal’s offerings of $1.25 billion aggregate principal amount of 5.50 percent mandatorily convertible subordinated notes due 2023 and $750 million of ordinary shares, with total aggregate gross proceeds from the offerings amounting to approximately $2 billion.

ArcelorMittal is the world’s leading steel and mining company, with a presence in 60 countries and an industrial footprint in 19 countries. Guided by a philosophy to produce safe, sustainable steel, ArcelorMittal is 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.

The Shearman & Sterling team below also included associate Harekrishna Ashar.

The Team