Linklaters and Cleary Gottlieb Steen & Hamilton have bagged the lead roles advising on a E17bn (£11.5bn) credit facility for Arcelor Mittal in what has been hailed as the largest refinancing ever in Europe.

Linklaters acted for lead arranger Citigroup Global Markets and a syndicate of banks, fielding a team headed by London finance partner Stephen Lucas and involving lawyers from its Luxembourg, Amsterdam, Paris and Brussels arms. Niederer Kraft & Frey acted in relation to Swiss issues.