ArcelorMittal announced its intention to offer no par value ordinary shares and obligatory convertible bonds totaling approximately USD 2.0 billion. The company retains flexibility in regulating the relative proportions of shares and required convertible bonds offered in its proposals. Shares and mandatory convertible bills of exchange will be offered in the United States pursuant to a filing application filed with the Securities and Exchange Commission and are subject to certain normal sale restrictions.
Raising capital is now a proactive measure to accelerate the achievement of the Company’s net debt target of $ 7 billion.
ArcelorMittal intends to use net offering proceeds for general corporate purposes to reduce funds and increase liquidity, thereby creating additional resilience in the face of uncertainty.