U.S. Steel amended its existing revolving credit facility. According to a related 8-K filing, JPMorgan Chase acted as administrative agent and collateral agent for the transaction.
The amendment extends the scheduled maturity date of the facility to February 2023 and maintains the $1.5 billion maximum facility amount available to U. S. Steel under the prior credit agreement.
“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,” said Executive Vice President and CFO of U.S. Steel Kevin P. Bradley.
