ArcelorMittal refinances via $5.5 billion five-year revolver

By Susanna Moon

Chicago, Dec. 20 – Arcelor Mittal SA said it signed a $5.5 billion five-year revolving credit facility on Wednesday.

The facility with two one-year extension options replaces the $5.5 billion facility dated April 30, 2015, according to a company announcement.

Proceeds will be used for the general corporate purposes.

The facility gives “considerably improved terms over the former facility” and pushes out the average maturity date by about three years, the company said.

ArcelorMittal is a Luxembourg-based steel producer.

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