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ArcelorMittal announced its intention to offer common shares, without nominal value, and mandatorily convertible notes in an expected aggregate amount of approximately USD 2.0 billion. The Company retains the flexibility to adjust the relative proportions of shares and mandatorily convertible notes offered in the offerings. The shares and mandatorily convertible notes will be offered within the United States pursuant to a registration statement filed with the Securities and Exchange Commission and globally subject to certain customary selling restrictions. The capital to be raised today is a proactive measure to accelerate the achievement of the Company’s USD 7 billion net debt target.
ArcelorMittal intends to use the net proceeds from the offerings for general corporate purposes, to deleverage and to enhance liquidity, thereby building additional resilience going forward in what remains an uncertain environment.