By Paul A. Harris
Portland, Ore., March 18 - ArcelorMittal (Ba1/BB+/BB+) launched and priced a €750 million issue of 3% five-year notes at mid-swaps plus 210 basis points on Tuesday, according to a market source.
The reoffer price was 99.648, and the yield was 3.077%.
Barclays, BNP Paribas, Commerzbank and SG CIB were the active bookrunners. ING, Rabobank and Santander were the passive bookrunners.
SG will bill and deliver.
The Luxembourg-based steel producer is pricing the Regulation S notes from its euro medium-term note program.
| Issuer: | ArcelorMittal
|
| Amount: | €750 million
|
| Maturity: | March 25, 2019
|
| Securities: | Senior notes
|
| Bill and deliver: | SG CIB
|
| Active bookrunners: | Barclays, BNP Paribas, Commerzbank, SG CIB
|
| Passive bookrunners: | ING, Rabobank, Santander
|
| Coupon: | 3%
|
| Price: | 99.648
|
| Yield: | 3.077%
|
| Spread: | 210 bps over mid-swaps; 246.8 bps over Bunds
|
| Trade date: | March 18
|
| Settlement date: | March 25
|
| Ratings: | Moody's: Ba1
|
| Standard & Poor's: BB+
|
| Fitch: BB+
|
| Distribution: | Regulation S
|
| Marketing: | Quick to market
|
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