Steelmaker ArcelorMittal (MT) is planning a benchmark-size, euro-denominated, six-year bond, one of the banks running the deal said Thursday.

Initial price thoughts are in the area of 275 basis points over midswaps.

Commerzbank AG, Credit Agricole CIB, HSBC Holdings PLC and Societe Generale CIB are the lead managers of the sale.

The issuer is rated Baa3 by Moody's Investors Service Inc. and BBB- by Standard & Poor's Corp.

It follows a call with investors Wednesday about a possible bond issue.

-By Ben Edwards, Dow Jones Newswires; 44-20-7842-9287; ben.edwards@dowjones.com

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