ArcelorMittal to repay $1 billion term loans with note proceeds

By Marisa Wong

Morgantown, W.Va., March 6 – ArcelorMittal intends to repay the $1 billion outstanding under its $7 billion term facilities agreement using proceeds from an offering of new notes, according to a 424B5 filing with the Securities and Exchange Commission.

Drawdowns under this facility bear interest at Libor plus 50 basis points. The facility matures on Nov. 20, 2019, subject to a six-month extension option.

ArcelorMittal is a Luxembourg-based steel producer.

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