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ArcelorMittal to redeem US$1.4B 4.5% notes

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ArcelorMittal to redeem US$1.4B 4.5% notes

ArcelorMittal said April 26 that it will redeem on May20 all of its outstanding US$1.4 billion 4.5% notes due Feb. 25, 2017.

The steelmaker would fund the redemption with proceeds fromits US$3 billion rightsoffering in April.

In mid-April, ArcelorMittal's offer to buy back US$1.50billion and €1.50 billion worth of notes received less than 50% take-up by the debt holders.