Arcelor Mittal announced preliminary prices for ordinary shares and convertible bonds (MNCS). The largest metallurgical company plans to help out about $ 4 billion in the primary market before the commission and tax deduction.
Arcelor Mittal will sell 104 million ordinary shares for 16.75 US dollars apiece, the corporation press center reports.
The maturity of subordinated debt papers (convertible bonds) will be three years, after which they will be converted into ordinary Arcelor Mittal shares. The income from turning the bond into a promotion will be, according to the company, 125% of the minimum transformation price or $ 20.94.
Lakshmi Mitall and his family announced his intention to acquire a stake for $ 300 million and bonds for another $ 300 million.
Papers will be placed on the US stock market. Goldman Sachs & Co acts as the only global release coordinator. The main goal of the planned placement is to reduce the volume of debt arcelor mittal.
According to the forecasts of the metallurgical giant, by June 30, 2013, the planned issue, as well as other initiatives of the company's management will reduce the net debt of Arcelor Mittal to about $ 17 billion and reduce the term of the medium -term targeted indicator of $ 15 billion.
Arcelor MitTal intends to issue shares and bonds of four billion dollars
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Azovpromstal® 10 January 2013 г. 00:01 |
