Muted Re­sponse to Arcelor Buy­back

The Economic Times - - Companies -

ArcelorMit­tal bond­hold­ers mostly re­jected the op­por­tu­nity to sell notes back to the world's largest steel­maker, sug­gest­ing a lack of al­ter­na­tives in low-yield credit mar­kets. In­vestors ten­dered less than half the bonds the com­pany sought to buy. They sub­mit­ted 627 mil­lion eu­ros ($711 mil­lion) of notes in a 1.5 bil­lion euro ten­der and $438 mil­lion of se­cu­ri­ties in a $1.5 bil­lion of­fer.

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