Steel­maker thinks over R4.2bn bond

Weekend Argus (Saturday Edition) - - LIFE -

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.

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