ArcelorMittal: E1bn bond issue
(CercleFinance.com) - On Wednesday ArcelorMittal announced the launch of a bond issue totaling E1bn, which it will mainly use to refinance its debt.
The first 4-year tranche (maturing in 2028) totals E500m and carries a fixed interest rate of 3.125%, while the second 7-year tranche (maturing in 2031) totals E500m and carries a fixed interest rate of 3.50%, the steelmaker said.
Arcelor specifies that the securities were issued as part of its E10bn '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 Friday 13 December.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The first 4-year tranche (maturing in 2028) totals E500m and carries a fixed interest rate of 3.125%, while the second 7-year tranche (maturing in 2031) totals E500m and carries a fixed interest rate of 3.50%, the steelmaker said.
Arcelor specifies that the securities were issued as part of its E10bn '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 Friday 13 December.
Copyright (c) 2024 CercleFinance.com. All rights reserved.