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Friday, December 19, 2014

Wednesday, May 21, 2008
Business

International Business News

Arcelor Mittal announces $3b bond issue to cut debt

Arcelor Mittal, the world's biggest steel producer, announced on Tuesday a bond issue to raise 3.0 billion dollars (1.9 billion euros) which would be used to reduce debt.

Half of the amount would be raised with bonds with a life of five years and half with 10-year bonds.

The five-year bonds would yield 5.375 percent and the 10-year paper 6.125 percent, the group said.

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