United States Steel Corporation announced that it has completed an amendment and restatement of the company’s USD 1.75 billion Asset Based Sustainability-Linked Credit Facility. The ABL maturity has been extended to 2027 and contains targeted sustainability Key Performance Indicators related to carbon reduction, safety performance and facility site certification by ResponsibleSteel. The ABL will incur positive or negative pricing adjustments on the loan margin and commitment fee based on its performance to the sustainability Key Performance Indicators.Last year, US Steel announced a bold ambition to achieve net-zero carbon emissions by 2050 as part of a transformational commitment to sustainable and profitable steelmaking. Meeting this goal will require partnerships to find new business approaches and develop new technologies, as well as collaboration and support of governments, trade agencies and other organizations.In April, ResponsibleSteel awarded its first site certification in North America to US Steel’s Big River Steel. This designation confirms the leadership and commitment US Steel has made to operate sustainably and ethically and to deliver sustainable steel solutions. Customers want sustainable high-quality steels to help them meet their own decarbonization targets. US Steel is transforming itself to deliver sustainable products and processes to its customers.JPMorgan Chase Bank acted as Administrative Agent and Collateral Agent. JP Morgan Securities and ING Capital acted as Joint Sustainability Structuring Agents in connection with the US Steel sustainability-linked ABL.
United States Steel Corporation announced that it has completed an amendment and restatement of the company’s USD 1.75 billion Asset Based Sustainability-Linked Credit Facility. The ABL maturity has been extended to 2027 and contains targeted sustainability Key Performance Indicators related to carbon reduction, safety performance and facility site certification by ResponsibleSteel. The ABL will incur positive or negative pricing adjustments on the loan margin and commitment fee based on its performance to the sustainability Key Performance Indicators.Last year, US Steel announced a bold ambition to achieve net-zero carbon emissions by 2050 as part of a transformational commitment to sustainable and profitable steelmaking. Meeting this goal will require partnerships to find new business approaches and develop new technologies, as well as collaboration and support of governments, trade agencies and other organizations.In April, ResponsibleSteel awarded its first site certification in North America to US Steel’s Big River Steel. This designation confirms the leadership and commitment US Steel has made to operate sustainably and ethically and to deliver sustainable steel solutions. Customers want sustainable high-quality steels to help them meet their own decarbonization targets. US Steel is transforming itself to deliver sustainable products and processes to its customers.JPMorgan Chase Bank acted as Administrative Agent and Collateral Agent. JP Morgan Securities and ING Capital acted as Joint Sustainability Structuring Agents in connection with the US Steel sustainability-linked ABL.
