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2021-06-17

ArcelorMittal Announces Invitation for Offers to Sell for Cash up to the Maximum Acceptance Amount

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) OR TO ANY U.S. PERSON (AS DEFINED BELOW) OR IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THE INVITATION FOR OFFERS.

ArcelorMittal Announces Invitation for Offers to Sell for Cash up to the Maximum Acceptance Amount

of its

EUR 500,000,000 0.950% Notes due 17 January 2023 (the “January 2023 Bonds”), of which EUR 366,879,000 in aggregate principal amount are outstanding;

EUR 750,000,000 1.000% Notes due 19 May 2023 (the “May 2023 Bonds”), of which EUR 750,000,000 in aggregate principal amount are outstanding;

EUR 1,000,000,000 2.250% Notes due 17 January 2024 (the “2024 Bonds”), of which EUR 1,000,000,000 in aggregate principal amount are outstanding; and

EUR 750,000,000 1.750% Notes due 19 November 2025 (the “2025 Bonds”), of which EUR 750,000,000 in aggregate principal amount are outstanding


 

Luxembourg, 17 June 2021 – 14:45 CET – ArcelorMittal (“ArcelorMittal” or the “Company”) announces the commencement of an invitation (subject to offer restrictions) to holders of the bonds (the “Bondholders”) set forth in the table below (the “Bonds”) to submit offers to sell for cash (each such offer, an “Offer to Sell”) up to a maximum aggregate principal amount of USD 1,500,000,000 of the Bonds (as converted into U.S. Dollars at the U.S. Dollar / Euro foreign exchange rate determined by the Company and Dealer Managers on 24 June 2021 using the Bloomberg BFIX screen) (or, if such screen is unavailable, a generally recognised source for currency quotations selected by the Dealer Managers), less the principal amount of USD Notes accepted for purchase pursuant to the Concurrent USD Offer (the “Maximum Acceptance Amount”), subject to the right of the Company to amend the Maximum Acceptance Amount, to the Company for cash on the terms and subject to the conditions contained in the invitation for offers (“Invitation for Offers” or the “Invitation”).

 

Description of the BondsISINListingMinimum DenominationOutstanding aggregate principal amountPurchase Price

 
Purchase Yield (1)Maximum Acceptance Amount
EUR 500,000,000 0.950% Notes due 17 January 2023XS1730873731Luxembourg€100,000€366,879,000N/A-0.15%USD 1,500,000,000

(as converted into U.S. Dollars), less the principal amount of USD Notes accepted for purchase pursuant to the Concurrent USD Offer (subject to the right of the Company to amend the Maximum Acceptance Amount)
EUR 750,000,000 1.000% Notes due 19 May 2023XS2082323630Luxembourg€100,000€750,000,000N/A-0.15%
EUR 1,000,000,000 2.250% Notes due 17 January 2024XS1936308391Luxembourg€100,000€1,000,000,000N/A-0.10%
EUR 750,000,000 1.750% Notes due 19 November 2025XS2082324018Luxembourg€100,000€750,000,000106.35% (€1,063.50 for each €1,000 in principal amount)N/A

(1) For information purposes only (i) the January 2023 Bonds Purchase Price will, when determined in the manner described herein on the basis of a Settlement Date of 29 June 2021, be 101.434 per cent. (€1,014.34 for each €1,000 in principal amount), (ii) the May 2023 Bonds Purchase Price will, when determined in the manner described herein on the basis of a Settlement Date of 29 June 2021, be 101.894 per cent. (€1,018.94 for each €1,000 in principal amount) and the (iii) the 2024 Bonds Purchase Price will, when determined in the manner described herein on the basi...

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