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ArcelorMittal to buy back US$3B worth of bonds

ArcelorMittalsaid April 11 that it launched a tender offer to purchase all of its outstandingUS$1.50 billion 6.125% notes, due 2018.

Concurrently, the company invited offers to sell all bonds inrelation to its €1.0 billion 4.625% notes, due Nov. 17, 2017, and €500.0 million4.50% notes due March 29, 2018.

The company will fund the purchases of bonds tendered in theoffers with existing cash resources, including the proceeds of its recently completed US$3 billion rights issue.

Barclays Capital Inc., BNP Paribas, Citigroup Global MarketsLtd. and JP Morgan Securities LLC will act as dealer managers for the offer.