Arcelor gets an extra $300m of FSF debt and seeks $3bn
Luxembourg’s ArcelorMittal, the world’s biggest steel company, announced a $3bn capital raising plan on Wednesday afternoon to cut its $31bn of gross debt, the vast majority of which is in the form of syndicated loans. Earlier, the borrower announced a $1.1bn first quarter loss and also said it had secured a further $300m of forward start commitments. Arcelor’s latest forward start will be added to the $2.757bn facility it signed last month, increasing that deal to $3.1bn.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ European securitization issuance database
- ✔ Daily newsletters across markets and asset classes
- ✔ 1 weekly securitization podcast
