ArcelorMittal SA (MT) Key Developments | Reuters.com
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ArcelorMittal SA (MT)

MT on New York Consolidated

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28 Jun 2016
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Latest Key Developments (Source: Significant Developments)

United Steelworkers members ratify new contract with ArcelorMittal USA
Thursday, 23 Jun 2016 01:52pm EDT 

United Steelworkers: Members have ratified a new contract with Arcelormittal USA .Contract sets terms of employment for nearly 14,000 hourly production, maintenance, office, technical workers through Sept 1, 2018.  Full Article

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 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 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 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

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ArcelorMittal plans divestment of French businesses

PARIS World number-one steelmaker ArcelorMittal is looking for a partner for one French subsidiary and is in discussions to sell another unit that operates largely in France, the company said on Friday.