Weekend Argus (Saturday Edition)
Steelmaker thinks over R4.2bn bond
ArcelorMittal South Africa is considering issuing a bond worth $300-350 million (R4.2-4.9 billion) in addition to a rights issue already announced by the company, the steelmaker said yesterday.
The South African unit of ArcelorMittal said it plans a cash call of around $324m.
“The bond would be subject to how much we raise on the rights issue,” said ArcelorMittal South Africa’s chief financial officer Dean Subramanian.