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ArcelorMittal to Offer Common Stock and Mandatorily Convertible Subordinated Notes; Reiterates FY 2012 EBITDA and FY 2012 Net Debt Guidance

Tuesday, 8 Jan 2013 07:00pm EST 

ArcelorMittal announced the Company‚Äôs intention to offer common stock (the Shares) and mandatorily convertible subordinated notes (the MCNs) for an expected amount of approximately USD 3.5 billion (the Combined Offering). The Company retains the flexibility to adjust the relative proportions of MCNs and common stock offered in the Combined Offering. The common stock and MCNs will be offered inside the United States pursuant to a registration statement filed with the Securities and Exchange Commission (the SEC) and globally, subject to certain customary selling restrictions. ArcelorMittal intends to use the net proceeds from the Combined Offering to reduce existing indebtedness. Additionally, ArcelorMittal reiterates its guidance for the FY 2012. The Company expects to achieve FY 2012 EBITDA of approximately USD 7 billion and net debt is expected to be approximately USD 22 billion as of FY 2012. According to I/B/E/S estimates analysts on average are expecting the Company to report FY 2012 EBITDA of USD 7,135.82 million. 

Company Quote

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