United States Steel Corporation Further Enhances Capital Structure
October 02 2018 - 4:15PM
Today, United States Steel Corporation (NYSE:X) announces the
establishment of a new revolving credit facility for United States
Steel Košice to further enhance its capital structure.
On September 26th, the Corporation’s wholly owned subsidiary U.
S. Steel Košice, (“USSK”), entered into a five-year €460 million
revolving credit facility agreement (the “Credit Facility”),
replacing the existing €200 million credit facility. This enhanced
Credit Facility provides additional liquidity and flexibility in
the Corporation’s capital structure with the strong support of
USSK’s lenders.
Of the announcement, President and Chief Executive Officer David
B. Burritt said, “We are pleased to announce this agreement, which
includes both economic and structural enhancements, that improves
our liquidity position and financial flexibility.”
Forward Looking Statements:All statements
included in this press release, other than historical information
or statements of historical fact, are "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Words such as,
but not limited to, "believes," "expects," "anticipates,"
"estimates," "intends," "plans," "could," "may," "will," "should,"
and similar expressions are intended to identify forward-looking
statements. All forward-looking statements rely on a number of
assumptions, estimates and data concerning future results and
events and are subject to a number of uncertainties and other
factors, many of which are outside the Company’s control that could
cause actual results to differ materially from those reflected in
such statements. Accordingly, U. S. Steel cautions that the
forward-looking statements contained herein are qualified by these
and other important factors and uncertainties that could cause
results to differ materially from those reflected by such
statements. For more information on the potential factors, please
review U. S. Steel’s filings with the SEC, including, but not
limited to, U. S. Steel’s Annual Report on Form 10-K, Quarterly
Reports on Form 10-Q and its Current Reports on Form 8-K.
United States Steel Corporation, headquartered in Pittsburgh,
Pa., is a leading integrated steel producer and Fortune 250 company
with major operations in the United States and Central Europe. For
more information about U. S. Steel, please visit
www.ussteel.com.
CONTACTS: |
|
Meghan Cox
ManagerCorporate Communications T – (412)
433-6777E – mmcox@uss.com |
Dan Lesnak General
ManagerInvestor RelationsT – (412) 433-1184E –
dtlesnak@uss.com |
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