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Print[Ferro-Alloys.com] Confirming the continued strong support of its key relationship banks, on 16 April 2020 ArcelorMittal received underwriting commitments in respect of a new USD 3 billion credit facility. The Credit Facility represents a new commitment from BNP Paribas, Crédit Agricole Corporate & investment Bank, JP Morgan and Société Générale, and further enhances the Company's already strong liquidity position of USD 10.5 billion as of 31 December 2019, including a EUR 5.5 billion revolving credit facility, which remains undrawn and is fully available until December 2024.
The new Credit Facility will have a maturity of 12 months and can be used for general corporate purposes. While the Company has no immediate need to draw on this new Credit Facility, it will provide additional financial flexibility in the current extraordinary circumstances. (STEELGURU)
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