ArcelorMittalon May 11 launched anothertender offer to purchase all of its outstanding US$1.50 billion of 9.850% notes,due June 1, 2019.

"The offer is being made to reduce gross debt through theearly repayment of medium-term maturing bonds," it said in the statement.

Earlier in April, the company's offer to buy back US$1.50 billionand €1.50 billion worth of notes received less than 50% take-up by debt holders.

The company will pay US$1,170 per US$1,000 principal amount ofnotes validly surrendered by May 18. All the accrued and unpaid interest will alsobe paid on each of the tendered notes.

ArcelorMittal will fund the purchases 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.

Recently, ArcelorMittal posted a US$416 million attributablenet loss in the firstquarter, narrowing from the US$6.69 billion loss posted in the preceding quarterand the US$728 million loss in the same quarter of 2015.