Shearman & Sterling represented the underwriters in connection with ArcelorMittal’s offering of $1.2 billion aggregate principal amount of its 6.550% Notes due 2027 and $1.0 billion aggregate principal amount of its 6.800% senior notes due 2032, totaling $2.2 billion aggregate principal amount.
ArcelorMittal intends to use the net proceeds of this offering for general corporate purposes. In addition, following the closing of this offering, commitments which remain available under a bridge facility agreement related to the financing of the intended acquisition of Companhia Siderúrgica do Pecém will, in accordance with the terms thereof, be cancelled in an amount equal to the amount by which this offering exceeds approximately $400 million, less certain expenses and tax costs that may, pursuant to the terms of the bridge facility agreement, be deducted from the amount to be cancelled.
ArcelorMittal is the world's leading steel and mining company, with a presence in 60 countries and primary steelmaking facilities in 16 countries. Its purpose is to produce ever smarter steels that have a positive benefit for people and planet, that will support societies as they transform through this century.
The Shearman & Sterling team below included associates Michael Curreri and Eugene Kim.