ArcelorMittal in Concurrent Euro- and Dollar-Denominated Debt Tender Offers

Cleary Gottlieb represented ArcelorMittal in two concurrent cash tender offers to purchase any and all of ArcelorMittal USA’s 6.500% notes due April 2014 and ArcelorMittal Finance’s 4.625% bonds due November 2014. The offers both launched on June 17. The euro-denominated offer settled on July 1 and the dollar-denominated offer settled in two tranches on July 1 and July 16. JP Morgan acted as Dealer Manager in connection with both tender offers.

The combined cash tender offer reflects ArcelorMittal’s robust liquidity position and forms part of its proactive approach to managing its debt maturity profile, reducing gross debt and optimizing interest costs. ArcelorMittal is the world’s leading integrated steel and mining company, with a presence in more than 60 countries. In 2012, ArcelorMittal had revenues of $84.2 billion and crude steel production of 88.2 million tonnes, representing approximately 6% of world steel output.