Weekend Argus (Saturday Edition)

Steelmaker thinks over R4.2bn bond

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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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