ArcelorMittal extends conversion date for $1bn mandatory convertible bond
15 Décembre 2017 - 07:01AM
15 December 2017 - ArcelorMittal announces the
extension of the conversion date for the $1bn privately placed
mandatory convertible bond (MCB) issued on 28 December 2009 by one
of its wholly-owned Luxembourg subsidiaries. This amendment to the
MCB, which is mandatorily convertible into preferred shares of such
subsidiary, was executed on 14 December 2017. The mandatory
conversion date of the bond has been extended to 29 January 2021.
The other main features of the MCB remain unchanged. The bond was
placed privately with Credit Agricole Corporate and Investment Bank
and is not listed.
The subsidiary has simultaneously executed amendments providing
for the extension of the outstanding notes into which it invested
the proceeds of the bond issuance, which are linked to shares of
the listed companies Eregli Demir Va Celik Fab. T. AS of Turkey and
China Oriental Group Company Limited, both of which are held by
ArcelorMittal subsidiaries.
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