Us Steel Credit Agreement

On 26 September, the wholly-paid subsidiary, including S. Steel Koice (“USSK”),) entered into a 560 million euro revolving credit facility agreement (the “credit facility”) that replaced the existing 200 million euro credit facility. This improved credit facility provides additional liquidity and flexibility in the group`s capital structure, with significant support from USSK lenders. PITTSBURGH, October 02, 2018 (GLOBE NEWSWIRE) — Today, United States Steel Corporation (NYSE:X) announces the creation of a new revolving credit facility for United States Steel Koice to further improve its capital structure. David B. Burritt, President and Chief Executive Officer, said of the announcement: “We are pleased to announce this agreement, which includes economic and structural improvements that improve our liquidity position and financial flexibility.” United States Steel Corporation, based in Pittsburgh, Pa., is a leading integrated steel producer and Fortune 250, with large subsidiaries in the United States and Central Europe. For more information about U.S. Steel, see www.ussteel.com. United States Steel Corporation, founded in 1901, is an integrated steel producer that operates large production sites in the United States and Central Europe. Headquartered in Pittsburgh, Pennsylvania, U.S. Steel manufactures a wide range of steel plate and tube products for the automotive, home, container, industrial machinery, construction and oil and gas sectors. On October 10, 2019, we launched the syndication of a new five-year revolving credit facility, totalling up to $2.0 billion (the “Revised and Revised Fifth Credit Agreement”) to replace the revised and revised fifth credit agreement.

The revised and revised fifth credit agreement is essentially in line with the terms of the existing credit facility agreement, with the exception that the amended and revised Fifth Credit Agreement contains certain amendments, including that it expires in 2024 and includes a “first-in, last-out” tranche of up to $150 million. The fifth revised and revised credit contract was concluded on October 25, 2019. Davis Polk advised the administrative officer and Lead Arrange with the joint Lead Arrangeren on a $2 billion revolving credit facility for the United States Steel Corporation, which consists of a $1.85 billion revolving credit facility and (ii) a $150 million repurchase mechanism. Honorary Associate: Ethan Goldman – Davis Polk – Wardwell; David Kennedy – Davis Polk – Wardwell; Jeanine McGuinness – Davis Polk – Wardwell; Kenneth Steinberg – Davis Polk – Wardwell; Madeleine Vella – Davis Polk – Wardwell; . . This press release contains information that may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, amended, and Section 21E of the Securities Exchange Act of 1934, as amended.