ArcelorMittal’s €750 Million Notes Offering

Shearman & Sterling advised the underwriters (led by BofA Merrill Lynch, Citigroup, Credit Agricole CIB, Goldman Sachs & Co. LLC, J.P. Morgan and RBC Capital Markets) on ArcelorMittal’s offering of 4.550% notes due 2026.

The offering closed on March 11, 2019. The net proceeds of the offering will be used towards the repayment of existing debt, including the $1 billion outstanding under a $7 billion term facilities agreement entered into in connection with the proposed acquisition of Essar Steel India Limited through a joint venture with Nippon Steel and Sumitomo Metal Corporation.

ArcelorMittal is the world’s leading steel and mining company, with a presence in 60 countries and an industrial footprint in 18 countries. Guided by a philosophy to produce safe, sustainable steel, ArcelorMittal is the leading supplier of quality steel in the major global steel markets including automotive, construction, household appliances and packaging, with world-class research and development and outstanding distribution networks.

Shearman & Sterling advised BofA Merrill Lynch, Citigroup, Credit Agricole CIB, Goldman Sachs & Co. LLC, J.P. Morgan and RBC Capital Markets with a team including Marwa Elborai (Picture), Jonathan Handyside, Steven Holm, Stephen McNamara, Kristen Garry, Daniel Kachmar, Jennifer D. Morton, Jenny Ding Jordan, P. Sean Kelly and Mehran Massih.

Involved fees earner: Jenny Ding Jordan – Shearman & Sterling; Marwa Elborai – Shearman & Sterling; Kristen Garry – Shearman & Sterling; Jonathan Handyside – Shearman & Sterling; Steven Holm – Shearman & Sterling; Daniel Kachmar – Shearman & Sterling; Sean Kelly – Shearman & Sterling; Mehran Massih – Shearman & Sterling; Stephen McNamara – Shearman & Sterling; Jennifer D. Morton – Shearman & Sterling;

Law Firms: Shearman & Sterling;

Clients: ArcelorMittal;