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Key Developments: ArcelorMittal SA (MT.N)

MT.N on New York Stock Exchange

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27 May 2016
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Latest Key Developments (Source: Significant Developments)

Arcelormittal announces results of offer to purchase notes due June 1, 2019
Thursday, 19 May 2016 04:38am EDT 

Arcelormittal SA :Aannounces results of offer to purchase for cash any and all of its 9.850 pct notes due June 1, 2019.  Full Article

ArcelorMittal announces offer to purchase notes due June 1, 2019
Wednesday, 11 May 2016 09:33am EDT 

ArcelorMittal SA :Announces offer to purchase for cash any and all of its 9.850 pct notes due June 1, 2019.  Full Article

Arcelormittal Q1 EBITDA of $927 million above estimates
Friday, 6 May 2016 01:00am EDT 

Arcelormittal : Results for Q1 reflect very tough operating conditions in second half of 2015 . Q1 revenue $13.40 billion versus $13.85 billion in Reuters poll . Q1 EBITDA $927 million versus $919 million in Reuters poll . The impact of the improving steel spread environment is expected to be fully reflected in the results of the second half of the year . Expects global apparent steel consumption ("ASC") to grow slightly in 2016 as compared to 2015 . Continues to expect to be free cash flow positive in 2016 . Expects its steel shipments to remain stable in 2016 as compared to 2015. . In Brazil apparent steel consumption is expected to decline further by between -10 pct to -12 pct in FY as economy remains mired in recession . Q1 own iron ore production 14.1 mt versus 15.6 mt year ago . Q1 iron ore shipped at market price 7.8 mt versus 9.4 mt year ago . The company expects FY 2016 EBITDA to be in excess of $4.5 billion .Company's cash requirements in 2016 are expected to total $4.5 billion, a greater than $1 billion reduction as compared to 2015.  Full Article

ArcelorMittal to redeem $1,400,000,000 4.500 pct notes due 2017
Monday, 25 Apr 2016 08:00pm EDT 

ArcelorMittal SA:Announces publication of notice of redemption of its $1,400,000,000 4.500 pct notes due Feb. 25, 2017.Arcelormittal confirms that it has given notice that it will redeem all of its outstanding $1,400,000,000 4.500 pct notes due Feb. 25, 2017.Will fund redemption of notes with proceeds of its rights offering that closed on April 8, 2016.Will redeem notes on may 20, 2016.  Full Article

ArcelorMittal announces results of the offer to purchase for cash any and all of its 6.125% notes due 2018
Monday, 18 Apr 2016 08:00pm EDT 

ArcelorMittal SA:Announces results of the offer to purchase for cash any and all of its 6.125 percent notes due 2018.  Full Article

ArcelorMittal to purchase for cash any and all of its 6.125% notes due 2018
Monday, 11 Apr 2016 10:15am EDT 

ArcelorMittal SA:Announces offer to purchase for cash any and all of its 6.125 pct notes due 2018.Announcement does not contain full terms and conditions of offer.Company will fund purchases of bonds tendered in offer and concurrent European offer with existing cash resources.  Full Article

ArcelorMittal USA intends to enter into new revolving credit facility
Sunday, 3 Apr 2016 08:00pm EDT 

ArcelorMittal SA:Arcelormittal USA intends to enter into new, five-year senior secured asset-based revolving credit facility.Five-Year senior secured asset-based revolving credit facility of up to $1 billion.This facility will be secured by inventory and certain other working capital and related assets of Arcelormittal USA and certain of its subsidiaries in united states.Expected to close in Q2 of 2016.Facility will be used for general corporate purposes of Arcelormittal USA and its subsidiaries.Facility is not being guaranteed by Arcelormittal.  Full Article

ArcelorMittal successfully completes its c. $3 bln rights issue
Sunday, 3 Apr 2016 08:00pm EDT 

ArcelorMittal SA:Announced the successful completion of its c. $3 billion rights issue.Total subscription rate of 126.9 pct (including oversubscription).Post capital increase, ArcelorMittal's issued share capital will consist of 3,065,710,869 shares without nominal value.  Full Article

ArcelorMittal to sell U.S. facilities LaPlace and Vinton Long Carbon
Thursday, 24 Mar 2016 09:00am EDT 

ArcelorMittal SA:Agrees to sell its LaPlace and Vinton Long Carbon facilities in the United States to affiliate of Black Diamond Capital management.Says terms of transaction are confidential and are not being disclosed.  Full Article

ArcelorMittal SA to shutter Trinidad and Tobago plant - AMMMKT
Monday, 14 Mar 2016 02:31am EDT 

ArcelorMittal SA:ArcelorMittal SA announced plans to permanently shutter its Trinidad and Tobago operations one day after a local industrial court ruled in favor of the nearly 500 workers who had been temporarily laid off, citing a “combination of local and international challenges” as influencing its decision.“As a last resort, ArcelorMittal Point Lisas has recommended a creditors’ voluntary wind-up is undertaken as soon as is legally and operationally practical,” the company said in a statement issued March 11.The subsidiary of the Luxembourg-based steelmaker said that despite its “considerable efforts,” the company had no choice but to close the iron and steel facility, which produces hot-briquetted iron primarily for Caribbean and Central American consumption.The plant had been idled since November, when 480 workers, originally reported as up to 600—were temporarily laid off.The lay-off announcement was renewed on Feb. 3 when 498 workers were laid off until March 13.On March 10, the Industrial Court of Trinidad and Tobago, following a complaint against the company by the local Steel Workers’ Union of Trinidad and Tobago, ruled that ArcelorMittal failed to discuss its temporary cost-cutting plans with the union and its workers before implementing the layoffs.  Full Article

European shares steady as Banco Popular cash call hits banks

MILAN/LONDON, May 26 European shares steadied on Thursday, with banks coming under pressure after a surprise rights issue by Spain's Banco Popular fuelled fears others in the region may follow to strengthen their balance sheets.