ArcelorMittal Announces Invitation for Offers to Sell for Cash up to the Maximum Acceptance Amount of its EUR 750,000,000 3.125% Notes due 14 January 2022 and EUR 500,000,000 0.95% Notes due 17 January 2023 - Seite 2
Subject to the right of the Company to extend, re-open, withdraw, terminate or amend the terms and conditions of the Invitation, the Company may purchase for cash up to the Maximum Acceptance Amount of Bonds validly offered for sale by Bondholders in accordance with the terms set out in the Invitation for Offers. For the avoidance of doubt, the Company may choose to purchase none of the Bonds offered for sale or to accept significantly more or less (or none) of any Series as compared to any other Series. In the event that the Offers to Sell received by the Tender Agent are in respect of an aggregate principal amount of Bonds that is greater than the Maximum Acceptance Amount (as amended, if applicable), the Company intends to accept the offered Bonds on a pro rata basis by applying the relevant Pro-Rating Factor, as more fully described in the Invitation for Offers.
A separate Offer to Sell must be submitted on behalf of each beneficial owner of the Bonds, given the possible proration.
Den Basisprospekt sowie die Endgültigen Bedingungen und die Basisinformationsblätter erhalten Sie bei Klick auf das Disclaimer Dokument. Beachten Sie auch die weiteren Hinweise zu dieser Werbung.
The price payable per principal amount of the Bonds in respect of which Offers to Sell are accepted will be:
- (i) with respect to the 2022 Bonds, a fixed price of 103.6% or (ii) with respect to the 2023 Bonds, a fixed price of 99.8% (in each case the “Purchase Price”), plus in each case,
- accrued and unpaid interest on the Bonds from and including the immediately preceding interest payment date for such Bonds up to, but excluding, the Settlement Date (as defined herein) (“Accrued Interest”).
Concurrently with the Invitation, the Company is making an offer to purchase for cash any and all of the USD denominated 6.125% Notes due 1 June 2025 (the “Concurrent USD Offer”). The Concurrent USD Offer is not being made pursuant to the Invitation for Offers.
The Company will fund purchases of bonds tendered in the Invitation and the Concurrent USD Offer with existing cash resources. The Invitation and the Concurrent USD Offer are being made to reduce the Company’s gross debt through the early repayment and cancelation of the 2022 Bonds and the 2023 Bonds and the bonds offered in the Concurrent USD Offer that are accepted for purchase pursuant to the Invitation and the Concurrent USD Offer.
The Settlement Date for the Invitation is expected to take place on or about 15 October 2020 (the “Settlement Date”).
Banco Bilbao Vizcaya Argentaria, S.A., Citigroup Global Markets Limited, HSBC Bank plc, Mizuho International plc and Natixis have been appointed to serve as the dealer managers for the Offers. D.F. King Ltd. has been retained to serve as the information and tender agent (“Tender Agent”).