THIS ANNOUNCEMENT IS FOR INFORMATION ONLY AND IS NOT AN OFFER TO PURCHASE OR A SOLICITATION OF OFFERS TO SELL ANY SECURITIES.
ArcelorMittal (the ‘Company’ or ‘ArcelorMittal’) announced today that it has determined the final repurchase price for its previously announced repurchases of certain of its 5.50% Mandatorily Convertible Subordinated Notes due 2023 (the ‘Notes’).
As previously announced on
The repurchase of this aggregate principal amount of Notes is equivalent to repurchasing approximately 36.6 million shares of ArcelorMittal common stock that would otherwise be issuable at maturity under the Notes (at the minimum conversion ratio). Pursuant to the purchase agreements the Notes will be cancelled and therefore the repurchased Notes will not convert into common shares of the Company.
Following completion (subject to customary conditions) of the repurchases, approximately
This transaction is a further step in the Company’s ongoing capital return program.
ENDS
About ArcelorMittal
ArcelorMittal is the world's leading steel and mining company, with a presence in 60 countries and primary steelmaking facilities in 17 countries. In 2020, ArcelorMittal had revenues of
Our goal is to help build a better world with smarter steels. Steels made using innovative processes which use less energy, emit significantly less carbon and reduce costs. Steels that are cleaner, stronger and reusable. Steels for electric vehicles and renewable energy infrastructure that will support societies as they transform through this century. With steel at our core, our inventive people and an entrepreneurial culture at heart, we will support the world in making that change. This is what we believe it takes to be the steel company of the future.
ArcelorMittal is listed on the stock exchanges of
Forward-Looking Statements
This document may contain forward-looking information and statements about ArcelorMittal and its subsidiaries. These statements include financial projections and estimates and their underlying assumptions, statements regarding the expected closing of the repurchases, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Forward-looking statements may be identified by the words “believe”, “expect”, “anticipate”, “target” or similar expressions. Although ArcelorMittal’s management believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of ArcelorMittal’s securities are cautioned that forward-looking information and statements are subject to numerous risks and uncertainties, many of which are difficult to predict and generally beyond the control of ArcelorMittal, that could cause actual results and developments to differ materially and adversely from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified in the filings with the
Contact information ArcelorMittal Investor Relations | |
General | +44 207 543 1128 |
Retail | +44 203 214 2893 |
SRI | +44 203 214 2801 |
Bonds/Credit | +33 1 71 92 1026 investor.relations@arcelormittal.com |
Contact information | |
Paul Weigh Tel E-mail: | +44 20 3214 2419 press@arcelormittal.com |
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