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The issue of shares and convertible debt are part of a strategy to reduce net debt and enhance liquidity for the post-COVID 19 period.
May 20, 2020 at 10:39 AM
1 minute read
Paris Correspondent
Cleary Gottlieb Steen & Hamilton has advised ArcelorMittal on a $2 billion issue of shares and convertible debt—part of a strategy to reduce net debt and enhance liquidity for the post-COVID 19 period, according to a lawyer involved.
Luxembourg-based ArcelorMittal, the world’s largest steel producer by revenue, said the financing would help with “building additional resilience going forward in what remains an uncertain environment,” according to a statement on its website.
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