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ArcelorMittal Signs US $6 billion, 5-Year Revolving Credit Facility
03/23/2011 - ArcelorMittal has signed a US$ 6-billion, 5-year Revolving Credit Facility that will replace the € 5 billion Revolving Credit Facility under ArcelorMittal’s existing €17 billion Credit Facility Agreement.
ArcelorMittal has signed a US$ 6-billion, 5-year Revolving Credit Facility.
The new Facility will replace the € 5 billion Revolving Credit Facility under ArcelorMittal’s existing €17 billion Credit Facility Agreement dated 30 November 2006. According to the company, it will be used for the general corporate purposes of the ArcelorMittal group.
The Facility attracted a very strong level of interest, allowing ArcelorMittal to increase the amount of the Facility from the launch amount of US$ 5 billion and to scale back the banks’ initial commitment levels.
The Facility was coordinated by Citigroup Global Markets Limited, Crédit Agricole Corporate and Investment Bank and HSBC Bank plc.
ArcelorMittal is the world's largest steel company, with operations in more than 60 countries. The company leads 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 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.
In 2010, ArcelorMittal had revenues of $78.0 billion and crude steel production of 90.6 million tonnes, representing approximately 8% of world steel output.
