ArcelorMittal gets commitment for new $3 billion one-year term loan

By Marisa Wong

Los Angeles, April 16 – ArcelorMittal SA announced it received commitments from BNP Paribas, Credit Agricole CIB, JPMorgan and Societe Generale for a new $3 billion credit facility.

The facility will have a maturity of 12 months and can be used for general corporate purposes, according to a press release.

The company said that although it has no immediate need to draw on this new loan, the facility provides additional financial flexibility in the current extraordinary circumstances.

The company had liquidity of $10.5 billion as of Dec. 31, including a €5.5 billion revolver that remains undrawn and is available until December 2024.

ArcelorMittal is a steel and mining company based in Luxembourg.

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