On November 29, 2022, ArcelorMittal completed offering of US $1.2 billion aggregate principal amount of 6.550% notes due 2027 and US $1.0 billion aggregate principal amount of 6.800% notes due 2032.
Four Canadian investors from Ontario (2), BC (1) and Quebec (1) invested aggregate US $85 million, representing 3.8% of the total offering.
The offering syndicate is led by BofA Securities, Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Mizuho Securities USA LLC, and including
Commerz Markets LLC, Credit Agricole Securities (USA) Inc., HSBC Securities (USA) Inc., RBC Capital Markets, LLC, SMBC Nikko Securities America, Inc., UniCredit Capital Markets LLC.
J.P. Morgan Securities LLC received approximately CDN $454,000 in commissions for the Canadian portion of its allocated portion (US $304.8 million) of the total offering. Canadian investments represented approximately 27.9% of J.P. Morgan Securities’ allocation.
Osler, Hoskin & Harcourt LLP acted as Canadian legal counsel to J.P. Morgan Securities LLC.
Luxembourg based ArcelorMittal is the world’s leading steel and mining company, with a presence in 60 countries and primary steelmaking facilities in 16 countries.
In Canada, ArcelorMittal Dofasco is a leading North American steel solution provider and Canada’s largest manufacturer of flat rolled steels. ArcelorMittal Dofasco is Hamilton’s largest private sector employer with nearly 5,000 employees.
ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
Deal Type: Foreign Firm – Public Debt Offering
Information can be found in Canadian Financings database. Information can not be found in any other databases, Canadian and foreign.
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photo credit: ArcelorMittal Dofasco