ArcelorMittal secures $3 billion credit facility

ArcelorMittal has received commitments from a group of banks for a new credit facility of $3 billion.

“The new Credit Facility will have a maturity of 12 months and can be used for general corporate purposes,” the steelmaker says. “While the company has no immediate need to draw on this new facility, it will provide additional financial flexibility in the current extraordinary circumstances.”

The company already has a €5.5 billion revolving credit facility, which remains undrawn and is fully available until December 2024, Kallanish notes.