Arcelor Secures 4 Bn Euro Loan.LUXEMBOURG -- Arcelor (ISIN Isin (ĭs`ĭn), capital of an ancient Semitic kingdom of N Babylonia. The city became important after the third dynasty of Ur fell to the Elamites and the Amorites (c.2025 B.C.). The phase from c.2025–c.1763 B.C. :LU0140205948) (Pink Sheets:ARLOF) (BOURSE bourse (b  rs), term applied to a European stock exchange. The first international bourse was established in Antwerp in the 16th cent. :LOR LOR Letter Of Reprimand (military)LoR Lord of the Rings (J.R.R. Tolkien) LOR Learning Object Repository LOR Linux.Org. ), through its financial vehicle Arcelor Finance, has signed with ABN AMRO ABN AMRO Algemene Bank Nederland-Amsterdam Roterdam Bank (Dutch bank) Bank N.V., Credit Mutuel-CIC acting through Credit Industriel et Commercial, Dresdner Bank AG London Branch, Fortis Bank N.V./S.A. and Natexis Banques Populaires, each an underwriter, on 30th March 2006 a 4bn EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 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 yesterday's closing, 12 additional Arcelor's relationship banks have committed to the transaction with a 70% oversubscription Oversubscription The excess number of shares or bonds that investors want to buy but are not available due to high demand. . The facility will not be syndicated further. Arcelor is the number one steel company in the world with a turnover of 32.6 billion euros in 2005. The company holds leadership positions in its main markets: automotive, construction, household appliances and packaging as well as general industry. The company - number one steel producer in Europe and Latin America - ambitions to further expand internationally in order to capture the growth potential of developing economies and offer technologically advanced steel solutions to its global customers. In 2006, Arcelor employs 110,000 associates in over 60 countries. The company places its commitment to sustainable development at the heart of its strategy and ambitions to be a benchmark for economic performance, labour relations and social responsibility. For more information on Arcelor's strategy, its values, results, performance, innovation, publications and opinion visit the webTV news site: http://www.arcelor.com/news/index.php?l=en |
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