ArcelorMittal prices $3 billion bond issue

On February 28, the world's largest steelmaker Luxembourg-based ArcelorMittal priced three series of US dollar-denominated notes, consisting of $500 million aggregate principal amount of its 3.75 percent notes due 2016, $1.5 billion aggregate principal amount of its 5.5 percent notes due 2021 and $1 billion aggregate principal amount of its 6.75 percent bonds due 2041.
 
The proceeds will be used to refinance existing indebtedness, the company said, adding that the offering is scheduled to close on 7 March, subject to satisfaction of customary conditions.