Luxembourg-based steel giant ArcelorMittal today announced that it completed the pricing of its 30-year US$1 billion aggregate principal amount of seven percent bonds due in 2039.
According to the company's statement, the yield of the bonds is 7.4 percent. ArcelorMittal has scheduled to close the offering on October 6, subject to satisfaction of customary conditions.
The world's largest steelmaker intends to use the offering proceeds, before expenses, of US$943.27 million for general corporate purposes.