OREANDA-NEWS. June 21, 2013. ArcelorMittal (“ArcelorMittal” or the “Company”) announced the commencement of an invitation for offers to sell (the “Invitation”) for cash of any and all of the bonds issued by its subsidiary, ArcelorMittal Finance, set forth in the table below (the “Existing Bonds”). 

Concurrently with the Invitation, ArcelorMittal and ArcelorMittal USA LLC are making an offer to purchase any and all of the USD denominated 6.500% notes due April 15, 2014 issued by ArcelorMittal USA LLC (the “Concurrent USD Offer”). The Concurrent USD Offer has no impact on the offers set out in the Invitation. The purpose of the Invitation is to retire all or a portion of the Existing Bonds prior to their maturity. The Invitation 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.

This announcement does not contain the full terms and conditions of the Invitation, which are contained in the invitation for offers dated June 17, 2013 prepared by ArcelorMittal (the “Invitation for Offers”, as it may be amended or supplemented from time to time), and are subject to the offer restrictions set out below and as more fully described in the Invitation for Offers.

The price payable per principal amount of the Existing Bonds in respect of which offers to sell are accepted will be (a) a fixed price of 104.575% plus (b) accrued and unpaid interest on the Existing Bonds from and including the immediately preceding interest payment date for such Existing Bonds up to, but excluding, the settlement date.

ArcelorMittal’s obligation to accept for purchase, and to pay for Existing Bonds validly offered pursuant to the Invitation are conditioned upon, the satisfaction or, where applicable, ArcelorMittal’s waiver of a number of conditions described in the Invitation for Offers. ArcelorMittal reserves the right, in its sole discretion, to waive any one or more of the conditions to the Invitation at any time.

Offers to sell Existing Bonds pursuant to the Invitation may be withdrawn only in the limited circumstances described in the section “Amendment and Termination” of the Invitation for Offers.

J.P. Morgan Securities plc has been appointed to serve as the sole dealer manager for the Offers.  D.F. King & Co., Inc. has been retained to serve as the information agent and tender agent.  

For additional information regarding the terms of the Invitation, please contact J.P. Morgan Securities PLC at +44 (0) 20 7134 3414.  Requests for documents and questions regarding the offers to sell Existing Bonds may be directed to D.F. King & Co., Inc. at +44 (0)20 7920 9700.

The Invitation for Offers is expected to be distributed to holders of Existing Bonds beginning today.  Copies of the Invitation for Offers may also be obtained at no charge from D.F. King & Co., Inc.

None of ArcelorMittal, the dealer manager, the information agent or the tender agent makes any recommendation as to whether any holder of Existing Bonds should tender or refrain from tendering all or any portion of the principal amount of such Existing Bonds.

This press release is neither an offer to purchase nor a solicitation to buy any of these Existing Bonds nor is it a solicitation for acceptance of the Invitation.  ArcelorMittal is making the Invitation only by, and pursuant to the terms of, the Invitation for Offers.  The Invitation is not being made to (nor will offers to sell Existing Bonds be accepted from or on behalf of holders of Existing Bonds in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.

This announcement must be read in conjunction with the Invitation for Offers.