Steel Products
January 11, 2013
ArcelorMittal to Offer Common Stock and MCNs in Effort to Reduce Debt
Written by Sandy Williams
Written by: Sandy Williams
ArcelorMittal announced Wednesday that it will offer common stock and mandatorily convertible subordinated notes (MCNs) for an expected amount of $3.5 billion in an effort to reduce indebtedness. The company expects the sale of stock and notes, along with other initiatives, to enable ArcelorMittal to reduce its current debt to $17 billion by June 30, 2013 and $15 billion by mid term.
