Arcelor Finance to be ArcelorMittal’s principal borrowing vehicle
Mittal Steel Company NV and Arcelor Wednesday said Arcelor Finance, a Luxembourg governed corporate partnership, will become the principal borrowing vehicle of the ArcelorMittal Group.
By INDIATIMES NEWS NETWORK |
MUMBAI: Mittal Steel Company NV and Arcelor Wednesday said Arcelor Finance, a Luxembourg governed corporate partnership, will become the principal borrowing vehicle of the ArcelorMittal Group.
A substantial portion of the debt currently held at the level of ArcelorMittal will be transferred to Arcelor Finance at the time of implementation of the second step of the merger process between ArcelorMittal and Arcelor.
All existing and future debt of Arcelor Finance will be fully and unconditionally guaranteed by ArcelorMittal.
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