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ArcelorMittal accepts purchase of €532.5M in bonds

ArcelorMittal agreed to purchase about €318.0 million of 2.875% notes due July 6, 2020, and about €214.5 million of 3.00% notes due April 9, 2021, as part of its recent offer, it said Dec. 9.

In late November, the steelmaker invited holders of €600.0 million in 2.875% bonds and €500.0 million in 3.00% bonds to submit offers to sell them to the company for cash.

The company said it would fund the purchases with existing cash resources.

The invitation expired Dec. 6, and settlement is expected Dec. 11.