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JPMorgan Chase Amends U.S. Steel Credit Facility

March 05, 2018, 07:16 AM
Filed Under: Steel

United States Steel Corporation announced the successful completion of an amendment and extension of its existing revolving credit facility.

The Fourth Amended and Restated Credit Agreement extends the scheduled maturity date until February 2023 and maintains the $1.5 billion maximum facility amount available to U. S. Steel under the prior credit agreement.

Kevin P. Bradley, Executive Vice President & Chief Financial Officer stated, “This action marks another step in our disciplined strategy to enhance the capital structure of U. S. Steel. We were able to improve both the efficiency and flexibility of this facility while extending the term to 2023. I am very pleased with the support we received from our bank group to accomplish this objective.”

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