ArcelorMittal to issue $3 bn in 5-yr,10-yr bonds

New Delhi, May 20: World's largest steel maker ArcelorMittal today said it will issue three billion dollars in dollar-denominated bonds, split equally between five-year and 10-year notes.

The firm has completed the pricing of the issue yesterday, with an interest rate of 5.375 per cent for the five-year notes that will mature on June 1, 2013, and 6.125 per cent for the 10-year notes to mature on June 1, 2018, a company statement said. The net proceeds of the issue will be used to repay existing debt, it added.

UNI