EduBourseActualitésArcelorMittal Announces Successful Completion of Consent Solicitation

ArcelorMittal Announces Successful Completion of Consent Solicitation

Pierre Perrin-Monlouis Dernière mise à jour: 20 octobre 2021

Chicago, May 22, 2008 – ArcelorMittal (NYSE: MT) announced today that its indirect wholly owned subsidiary, ArcelorMittal Financial Services LLC (the “Issuer”), has successfully completed its previously announced consent solicitation with respect to proposed amendments to certain provisions of (i) the Indenture dated March 25, 2004, as amended (the “Indenture”), governing its outstanding $422.5 million aggregate principal amount of 9¾ percent Senior Secured Notes Due 2014 (the “Notes”) (CUSIP No. 46489N AD 4; ISIN No. US46489NAD49), which are secured by $422.5 million aggregate principal amount of Series Z First Mortgage Bonds (the “First Mortgage Bonds”) of ArcelorMittal USA Inc., (ii) the First Mortgage dated April 1, 1928, as amended, governing the First Mortgage Bonds and (iii) the Security Agreement, dated March 25, 2004, entered into in connection with the issuance of the Notes (collectively, the “Proposed A! mendments”).

As of the expiration of the consent solicitation at 5:00 p.m., New York City time, on Wednesday, May 21, 2008 (the “Expiration Time”), the Issuer had received the requisite consents from the holders of outstanding Notes in an amount necessary to approve the Proposed Amendments. On May 21, 2008, in connection with the solicitation of consents, the Issuer executed a supplemental indenture (the “Supplemental Indenture”) amending the terms of the Indenture. The Supplemental Indenture was entered into by the Issuer, ArcelorMittal USA Partnership, the Guarantors (as defined therein) and LaSalle Bank National Association, as Trustee.

The Issuer will pay or cause to be paid to each holder of Notes who delivered a valid and unrevoked consent prior to the Expiration Time a one-time cash payment of $1.25 for each $1,000 principal amount of Notes in respect of which a valid and unrevoked consent was delivered (the “Consent Payment”). The Consent Payment is expected to be made on May 22, 2008.

The consent solicitation was made pursuant to, and the complete terms and conditions of the consent solicitation and Proposed Amendments are set forth in, the Consent Solicitation Statement and Prospectus dated April 23, 2008. The Proposed Amendments are binding on all holders, including non-consenting holders of Notes.

About ArcelorMittal

ArcelorMittal is the world’s largest and most global steel company, with 310,000 employees in more than 60 countries.

ArcelorMittal is the leader in all major global markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. An industrial presence in 28 European, Asian, African and American countries exposes the company to all the key steel markets, from emerging to mature, positions it will be looking to develop in the high-growth Chinese and Indian markets.

ArcelorMittal key financials for 2007 show revenues of USD 105.2 billion, with a crude steel production of 116 million tonnes, representing around 10 per cent of world steel output.

ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris ( MTP), Brussels (MTBL), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).

About ArcelorMittal Financial Services LLC and ArcelorMittal USA Inc.

ArcelorMittal Financial Services LLC is a limited liability company that was recently formed under the laws of Delaware and is an indirect wholly owned subsidiary of ArcelorMittal. ArcelorMittal Financial Services LLC is a limited purpose finance company and, except for the First Mortgage Bonds and $90 million of Series A 8% Preferred Stock of ArcelorMittal USA Inc., ArcelorMittal Financial Services LLC has no material assets or liabilities.

ArcelorMittal USA Inc. is one of North America’s largest steelmakers and serves a broad U.S. manufacturing base. ArcelorMittal USA Inc. is an indirect wholly owned subsidiary of ArcelorMittal.

ArcelorMittal Communications
Bill Steers 312-899-3817
[email protected]

Pierre Perrin-Monlouis
Pierre Perrin-Monlouis
Fondateur de Rente et Patrimoine (cabinet de gestion de patrimoine), Pierre Perrin-Monlouis est un analyste et trader pour compte propre. Il vous fait profiter de son expérience en trading grâce à ses analyses financières et décrypte pour vous les actualités des marchés. Son approche globale des marchés combine à la fois l'analyse technique et l'analyse fondamentale sur l'ensemble des marchés : crypto, forex, actions et matières premières.