ArcelorMittal in $3 Billion Registered Bond Offering

March 7, 2011

Cleary Gottlieb represented ArcelorMittal in a registered offering of an aggregate principal amount of $3 billion of debt securities, including $500 million of 3.75% 5-year notes, $1.5 billion of 5.50% 10-year notes and $1 billion of 6.75% 30-year notes. This offering priced on February 28, 2011 and closed on March 7, 2011. BofA Merrill Lynch, Citi and J.P. Morgan acted as joint book-running managers for the offering, and BBVA Securities, Crédit Industriel et Commercial (Groupe Crédit Mutuel-CIC), ING and Rabo Securities acted as co-managers.

ArcelorMittal intends to use the proceeds of the offering to repay two installments of a term loan extended by various banks.

During 2009 and 2010, Cleary Gottlieb represented ArcelorMittal in seven capital markets transactions that generated aggregate proceeds of over $12.3 billion.

ArcelorMittal is the world’s largest and most global steel producer. In 2010, ArcelorMittal had sales of $78 billion and steel shipments of 85 million tonnes.