Davis Polk & Wardwell LLP advised Banc of America Securities LLC, Citigroup Global Markets Inc., Morgan Stanley & Co. Incorporated and J.P. Morgan Securities Inc. as joint book-running managers of an SEC-registered offering of US$1 billion aggregate principal amount of 3.75% notes due 2015, US$1 billion aggregate principal amount of 5.25% notes due 2020 and a reopening in an aggregate principal amount of US$500 million of its 7% notes due 2039, issued on October 8, 2009.

ArcelorMittal is the world’s largest and most global steel producer, with steel-making operations in 20 countries on four continents. ArcelorMittal is the largest steel producer in the Americas, Europe and Africa, the second-largest steel producer in the Commonwealth of Independent States and has a growing presence in Asia, particularly in China. The transaction represents the third-largest steel bond offering across any market.

The Davis Polk corporate team included partner Andrés V. Gil and associates Karin B. Braverman and Amy T. Alter of the Paris office. Partner John D. Paton and associate Adam B. Perry of the London office provided tax advice. Vivienne M. Guiden and Julie Nauman of the Paris office were the legal assistants on the transaction.