ArcelorMittal announces signing of $6 billion revolving facility

By Wendy Van Sickle

Columbus, Ohio, April 30 – ArcelorMittal signed a $6 billion revolving credit facility Thursday, incorporating three- and five-year tranches, the company announced in a press release.

The facility replaces a $2.4 billion revolving credit facility agreement from May 2010 and a $3.6 billion agreement from March 2011.

The facility will be used for general corporate purposes and gives ArcelorMittal improved terms over the two former agreements, while extending the average maturity date by approximately two years, according to the release.

At time of closing, the new facility and the two replaced facilities were undrawn, the release stated. The company said it “received indications of interest far in excess of that which it sought.”

ArcelorMittal is a Luxembourg-based steel producer.

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