FCBWR048373_20090324.pdf
THIS DOCUMENT IS FOR INFORMATION PURPOSES ONLY. THIS IS NOT AN OFFERING MEMORANDUM OR PROSPECTUS AND SHOULD NOT BE TREATED AS
OFFERING MATERIAL OF ANY SORT.
NOT FOR DISTRIBUTION INTO THE U.S. OR TO U.S. PERSONS, CANADA, AUSTRALIA OR JAPAN
THE SECURITIES MENTIONED HEREIN HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED.
THEY MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF U.S. PERSONS, EXCEPT PURSUANT TO AN
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. ARCELORMITTAL DOES NOT INTEND TO REGISTER ANY PORTION OF THE
PROPOSED OFFERING IN THE UNITED STATES AND NO PUBLIC OFFERING WILL BE MADE IN THE UNITED STATES.
ANY OFFERS OF THE SECURITIES DESCRIBED IN THIS PRESS RELEASE WILL BE SUBJECT TO THE RESTRICTIONS OF DIRECTIVE 2003/71/EC OF THE
EUROPEAN PARLIAMENT AND OF THE COUNCIL OF NOVEMBER 4TH, 2003 (THE "PROSPECTUS DIRECTIVE") INCLUDING ANY RELEVANT IMPLEMENTING
MEASURES IN EACH MEMBER STATE OF THE EUROPEAN ECONOMIC AREA IN WHICH THE PROSPECTUS DIRECTIVE HAS BEEN IMPLEMENTED. POTENTIAL
INVESTORS INTO WHOSE POSSESSION THIS PRESS RELEASE COMES ARE REQUIRED BY THE ISSUER, THE JOINT LEAD-MANAGERS AND JOINT
BOOKRUNNERS AND THE CO-LEAD MANAGERS TO INFORM THEMSELVES ABOUT AND TO OBSERVE THESE RESTRICTIONS. ANY OFFERS MADE IN VIOLATION
OF THESE RESTRICTIONS WILL BE UNLAWFUL.

news release
Successful placement of EUR 1.1 bn convertible/exchangeable
bonds

Luxembourg, March 24, 2009 (19:30 CET) – ArcelorMittal is pleased to announce the successful
placement of its EUR 1.1 billion bonds convertible and/or exchangeable into new and/or existing shares
due April 1, 2014 (the “Bonds”), announced earlier today.
Commenting, Aditya Mittal, CFO ArcelorMittal, said: "To receive such a positive response to the issue in
the current economic climate is particularly pleasing, and we believe represents a strong indication of
confidence in ArcelorMittal. The convertible bond brings multiple benefits to the company, enabling us to
extend the maturity of our debt and diversify our debt structure, as well as further enhancing our
liquidity”.
The principal amount of the Bond issue is EUR 1.1 billion, following an increase by the issuer from the
initial amount of EUR 750 million. The offering may be further increased up to a maximum of EUR 1.25
billion if the over-allotment option granted to the Joint Lead-Managers and Joint Bookrunners is
exercised in full and by March 30, 2009 at the latest.
The nominal value of each bond corresponds to EUR 20.25, providing a premium of 32% above the
reference price (VWAP between launch and pricing) of ArcelorMittal shares on Euronext Amsterdam.
The conversion / exchange ratio of the Bonds will be one new or existing ArcelorMittal share per Bond,
subject to customary adjustment provisions.
Page 1 of 4

THIS DOCUMENT IS FOR INFORMATION PURPOSES ONLY. THIS IS NOT AN OFFERING MEMORANDUM OR PROSPECTUS AND SHOULD NOT BE TREATED AS
OFFERING MATERIAL OF ANY SORT.
NOT FOR DISTRIBUTION INTO THE U.S. OR TO U.S. PERSONS, CANADA, AUSTRALIA OR JAPAN
THE SECURITIES MENTIONED HEREIN HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED.
THEY MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF U.S. PERSONS, EXCEPT PURSUANT TO AN
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. ARCELORMITTAL DOES NOT INTEND TO REGISTER ANY PORTION OF
THE PROPOSED OFFERING IN THE UNITED STATES AND NO PUBLIC OFFERING WILL BE MADE IN THE UNITED STATES.
ANY OFFERS OF THE SECURITIES DESCRIBED IN THIS PRESS RELEASE WILL BE SUBJECT TO THE RESTRICTIONS OF DIRECTIVE 2003/71/EC OF THE
EUROPEAN PARLIAMENT AND OF THE COUNCIL OF NOVEMBER 4TH, 2003 (THE "PROSPECTUS DIRECTIVE") INCLUDING ANY RELEVANT IMPLEMENTING
MEASURES IN EACH MEMBER STATE OF THE EUROPEAN ECONOMIC AREA IN WHICH THE PROSPECTUS DIRECTIVE HAS BEEN IMPLEMENTED. POTENTIAL
INVESTORS INTO WHOSE POSSESSION THIS PRESS RELEASE COMES ARE REQUIRED BY THE ISSUER, THE JOINT LEAD-MANAGERS AND JOINT
BOOKRUNNERS AND THE CO-LEAD MANAGERS TO INFORM THEMSELVES ABOUT AND TO OBSERVE THESE RESTRICTIONS. ANY OFFERS MADE IN
VIOLATION OF THESE RESTRICTIONS WILL BE UNLAWFUL.

The Bonds will bear interest at 7.25% payable semi-annually and will be redeemed at par on April 1,
2014. The Bonds may be redeemed at the option of the issuer at any time on or after April 19, 2013
subject to certain conditions.
Settlement and delivery of the Bonds is expected to take place on April 1, 2009.
The Bonds were offered by way of a private placement to qualified investors within the meaning of
Directive 2003/71/EC of the European Parliament and the Council of November 4th, 2003, in
accordance with the respective regulations of each country in which the Bonds are offered. The Bonds
were not offered or sold in the United States of America, Australia, Canada and Japan.
This offering was lead-managed by CALYON and Société Générale Corporate & Investment Banking
acting as Joint Lead-Managers and Joint Bookrunners, with Natixis and Rabobank as Co-Lead
Managers.
IMPORTANT NOTE:
This press release does not, and shall not, in any circumstances constitute a public offering by ArcelorMittal of
bonds convertible into and/or exchangeable for new or existing shares (the “Bonds”) nor an invitation to the public
in connection with any offer.
No communication and no information in respect of the offering of the Bonds may be distributed to the public in any
jurisdiction where a registration or approval is required. No steps have been or will be taken in any jurisdiction
where such steps would be required. The Bonds are being offered only to qualified investors within the meaning of
the Prospectus Directive (as defined below). The offering or subscription of the Bonds may be subject to specific
legal or regulatory restrictions in certain jurisdictions. ArcelorMittal takes no responsibility for any violation of any
such restrictions by any person.
This press release is an advertisement and not a prospectus within the meaning of Directive 2003/71/EC of the
European Parliament ant the Council of November 4th, 2003 (as implemented in each member State of the
European Economic Area (the “Member States”), the (“Prospectus Directive”).
In relation to each Member State of the European Economic Area and which has implemented the Prospectus
Directive (each, a “Relevant Member State”), no action has been undertaken or will be undertaken to make an offer
to the public of the Bonds requiring a publication of a prospectus in any Relevant Member State. As a result, the
Bonds may only be offered in relevant member states:
(i) to legal entities which are authorized or regulated to operate in the financial markets or, if not so authorized or
regulated, whose corporate purpose is solely to invest in securities;

Page 2 of 4

THIS DOCUMENT IS FOR INFORMATION PURPOSES ONLY. THIS IS NOT AN OFFERING MEMORANDUM OR PROSPECTUS AND SHOULD NOT BE TREATED AS
OFFERING MATERIAL OF ANY SORT.
NOT FOR DISTRIBUTION INTO THE U.S. OR TO U.S. PERSONS, CANADA, AUSTRALIA OR JAPAN
THE SECURITIES MENTIONED HEREIN HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED.
THEY MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF U.S. PERSONS, EXCEPT PURSUANT TO AN
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. ARCELORMITTAL DOES NOT INTEND TO REGISTER ANY PORTION OF
THE PROPOSED OFFERING IN THE UNITED STATES AND NO PUBLIC OFFERING WILL BE MADE IN THE UNITED STATES.
ANY OFFERS OF THE SECURITIES DESCRIBED IN THIS PRESS RELEASE WILL BE SUBJECT TO THE RESTRICTIONS OF DIRECTIVE 2003/71/EC OF THE
EUROPEAN PARLIAMENT AND OF THE COUNCIL OF NOVEMBER 4TH, 2003 (THE "PROSPECTUS DIRECTIVE") INCLUDING ANY RELEVANT IMPLEMENTING
MEASURES IN EACH MEMBER STATE OF THE EUROPEAN ECONOMIC AREA IN WHICH THE PROSPECTUS DIRECTIVE HAS BEEN IMPLEMENTED. POTENTIAL
INVESTORS INTO WHOSE POSSESSION THIS PRESS RELEASE COMES ARE REQUIRED BY THE ISSUER, THE JOINT LEAD-MANAGERS AND JOINT
BOOKRUNNERS AND THE CO-LEAD MANAGERS TO INFORM THEMSELVES ABOUT AND TO OBSERVE THESE RESTRICTIONS. ANY OFFERS MADE IN
VIOLATION OF THESE RESTRICTIONS WILL BE UNLAWFUL.

(ii) to any legal entity which meets two or more of the following criteria: (1) an average of at least 250 employees
during the last financial year; (2) a total balance sheet of more than EUR43 million; and (3) an annual net turnover
of more than EUR50 million, as shown in its last annual or consolidated accounts;
(iii) in any other circumstances, that would not require publication of a prospectus by ArcelorMittal under article 3(2)
of the Prospectus Directive.
This press release is not an invitation nor is it intended to be an inducement to engage in investment activity for the
purpose of Section 21 of the Financial Services and Markets Act 2000 of the United Kingdom (the “FSMA”). To the
extent that this press release does constitute an inducement to engage in any investment activity, it is directed only
at (i) persons who are outside the United Kingdom, (ii) persons who are investment professionals within the
meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as
amended) of the United Kingdom (the “Financial Promotion Order”); (iii) persons who fall within Articles 49(2)(a) to
(d) ("high net worth companies, unincorporated associations etc.") and Article 43(2) of the Financial Promotion
Order; and (iv) any other persons to whom this press release for the purposes of Section 21 of FSMA can otherwise
lawfully be communicated (all such persons together being referred to as “relevant persons”), and must not be
acted on or relied upon by persons other than relevant persons. Any invitation or inducement to engage in any
investment activity included within this press release is available only to relevant persons and will be engaged in
only with relevant persons. Anyone other than a relevant person must not rely on this press release.
This press release does not constitute an offer to sell or a solicitation of an offer to purchase any securities in the
United States. The securities referred to herein (including the Bonds and the shares of ArcelorMittal deliverable
upon exchange and/or the new shares issuable upon conversion of the Bonds) have not been and will not be
registered under the U.S. Securities act of 1933, as amended (the “Securities Act”) or the laws of any state within
the U.S., and may not be offered or sold in the United States or to or for the account or benefit of U.S. Persons,
except in a transaction not subject to, or pursuant to an applicable exemption from, the registration requirements of
the Securities Act or any state securities laws. This press release and the information contained herein may not be
distributed or sent into the United States, or in any other jurisdiction in which offers or sales of the securities
described herein would be prohibited by applicable laws and should not be distributed to United States persons or
publications with a general circulation in the United States. No offering of the Bonds has been made or will be made
in the United States.
CALYON, acting as stabilising agent (or any institution acting on its behalf), may, without being bound, from the
disclosure of the final terms of the Bonds and of the offer, i.e. from March 24, 2009, intervene for stabilisation
reasons on the market of the Bonds and/or possibly the shares of ArcelorMittal, in accordance with applicable laws
and regulations, and in particular, Regulation (EC) 2273/2203 of the Commission of 22 December 2003.
Such transactions, if they are carried out, may be discontinued at any moment and will be discontinued no later
than March 30, 2009, in accordance with Article 8.5 of Regulation (EC) 2273/2003 of the Commission of 22
December 2003. Such transactions are aimed to support the trading price of the Bonds and /or of the shares of
ArcelorMittal. Such transactions may also have an effect on the trading price of shares of ArcelorMittal and the
Bonds and could result in the setting of a trading price higher than the one that would otherwise prevail.

Page 3 of 4

THIS DOCUMENT IS FOR INFORMATION PURPOSES ONLY. THIS IS NOT AN OFFERING MEMORANDUM OR PROSPECTUS AND SHOULD NOT BE TREATED AS
OFFERING MATERIAL OF ANY SORT.
NOT FOR DISTRIBUTION INTO THE U.S. OR TO U.S. PERSONS, CANADA, AUSTRALIA OR JAPAN
THE SECURITIES MENTIONED HEREIN HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED.
THEY MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF U.S. PERSONS, EXCEPT PURSUANT TO AN
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. ARCELORMITTAL DOES NOT INTEND TO REGISTER ANY PORTION OF
THE PROPOSED OFFERING IN THE UNITED STATES AND NO PUBLIC OFFERING WILL BE MADE IN THE UNITED STATES.
ANY OFFERS OF THE SECURITIES DESCRIBED IN THIS PRESS RELEASE WILL BE SUBJECT TO THE RESTRICTIONS OF DIRECTIVE 2003/71/EC OF THE
EUROPEAN PARLIAMENT AND OF THE COUNCIL OF NOVEMBER 4TH, 2003 (THE "PROSPECTUS DIRECTIVE") INCLUDING ANY RELEVANT IMPLEMENTING
MEASURES IN EACH MEMBER STATE OF THE EUROPEAN ECONOMIC AREA IN WHICH THE PROSPECTUS DIRECTIVE HAS BEEN IMPLEMENTED. POTENTIAL
INVESTORS INTO WHOSE POSSESSION THIS PRESS RELEASE COMES ARE REQUIRED BY THE ISSUER, THE JOINT LEAD-MANAGERS AND JOINT
BOOKRUNNERS AND THE CO-LEAD MANAGERS TO INFORM THEMSELVES ABOUT AND TO OBSERVE THESE RESTRICTIONS. ANY OFFERS MADE IN
VIOLATION OF THESE RESTRICTIONS WILL BE UNLAWFUL.

About ArcelorMittal

ArcelorMittal is the world's leading steel company, with operations in more than 60 countries.
ArcelorMittal is the leader in all major global steel markets, including automotive, construction, household appliances and
packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution
networks. With an industrial presence in over 20 countries spanning four continents, the Company covers all of the key steel
markets, from emerging to mature.
Through its core values of sustainability, quality and leadership, ArcelorMittal commits to operating in a responsible way with
respect to the health, safety and wellbeing of its employees, contractors and the communities in which it operates. It is also
committed to the sustainable management of the environment and of finite resources. ArcelorMittal recognises that it has a
significant responsibility to tackle the global climate change challenge; it takes a leading role in the industry's efforts to develop
breakthrough steelmaking technologies and is actively researching and developing steel-based technologies and solutions that
contribute to combat climate change.
In 2008, ArcelorMittal had revenues of $124.9 billion and crude steel production of 103.3 million tonnes, representing
approximately 10 per cent of world steel output.
ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Brussels (MT), Luxembourg (MT)
and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).

For more information about ArcelorMittal visit: www.arcelormittal.com
Contact information ArcelorMittal Investor Relations
Europe
+352 4792 2652
Americas
+1 312 899 3569
Retail
+352 4792 2434
SRI
+44 203 214 2854
Bonds/Credit
+33 1 71 92 10 26
Contact information ArcelorMittal Corporate Communications
E-mail: press@arcelormittal.com
Phone: +352 4792 5000
ArcelorMittal Corporate Communications
Giles Read (Head of Media Relations)
Arne Langner
Jean Lasar
Lynn Robbroeckx

+44 20 3214 2845
+352 4792 3120
+352 4792 2359
+352 4792 3193

ArcelorMittal (Americas)
Bill Steers
Adam Warrington

+1 312 899 3817
+1 312 899 3596

United Kingdom
Maitland Consultancy:
David Sturken / Martin Leeburn

+ 44 20 7379 5151

France
Image 7
Tiphaine Hecketsweiler / Grégoire Lucas

+33 1 5370 7470

Page 4 of 4

Spain
Ignacio Agreda
Oscar Fleites

+34 94 489 4162
+34 98 512 60 29

India
Abhinav Kanchan
Sunanda Sanganeria

+91 11 467 594 05
+91 11 467 594 24

