ArcelorMittal wraps tenders for €139.5 million 4 5/8% notes at 104.575

By Susanna Moon

Chicago, June 27 - ArcelorMittal said it accepted for purchase tenders for €139.52 million of the €500 million of 4 5/8% bonds due Nov. 7, 2014 issued by subsidiary ArcelorMittal Finance.

The tender offer was announced June 17 and ended at 11 a.m. ET on June 26.

Holders will receive €1,075.65 per €1,000 principal amount, including a total purchase price of €1,045.75 plus €29.90 of accrued interest, according to a company press release.

After settlement on July 1, there will be €360.48 million of the notes outstanding.

J.P. Morgan Securities plc (+44 0 20 7134 3414) was the dealer manager. D.F. King & Co., Inc. (+44 0 20 7920 9700) was the information agent and tender agent.

Offer for 6½% notes

The company also is tendering for the $500 million of 6½% notes due April 15, 2014 issued by ArcelorMittal USA LLC.

The total purchase price for the 6½% notes will be $1,038.75 for each $1,000 principal amount, as announced June 17 in a separate press release.

The total payment for the 6½% notes includes an early tender premium of $50.00 per $1,000 principal amount of notes tendered by 11:59 p.m. ET on June 28, the early tender date.

The offer for the 6½% notes will end at 11:59 p.m. ET on July 15.

Those who tender their 6½% notes after the early deadline will receive the total payment less the early premium.

The company also will pay accrued interest up to but excluding the settlement date, which will be July 1 for 6½% notes tendered by the early deadline and July 16 for 6½% notes tendered after the early date.

Tendered 6½% notes may be withdrawn by the early tender deadline.

J.P. Morgan Securities LLC (866 834-4666 or collect 212 834-2452) is the dealer manager for the 6½% notes offer. D.F. King & Co., Inc. (800 758-5378 or collect 212 269-5550 for 6½% noteholders) is the information agent and tender agent.

The offer is not contingent upon the tender of any minimum principal amount of notes.

The purpose of the offer is to retire all or some of the bonds before maturity, and the offer reflects the company's "robust liquidity position and forms part of the company`s proactive approach to managing its debt maturity profile, reducing gross debt and optimizing interest costs," the company said in the previous releases.

ArcelorMittal is a Luxembourg-based steel and mining company.

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