Arcelor, through its financial vehicle Arcelor Finance, has signed with ABN AMRO Bank NV, Crédit Mutuel–CIC acting through Crédit Industriel et Commercial, Dresdner Bank AG London Branch, Fortis Bank NV/SA and Natexis Banques Populaires, each an underwriter, on 30th March 2006 a EUR 4 billion Term Loan Facility with a 3 year maturity. The facility will pay an initial margin of 27.5bp and will be used by Arcelor to maintain its financial flexibility after recent acquisitions. A restricted syndication of the facility was launched immediately after signature. At 25 April closing, 12 additional Arcelor’s relationship banks have committed to the transaction with a 70% over-subscription. The facility will not be syndicated further.
