ArcelorMittal Amends Revolving Credit Facility to Align With Sustainability Goals
30 April 2021 - 9:01PM
Dow Jones News
By Stephen Nakrosis
ArcelorMittal said Friday it reached agreement with lenders to
amend its $5.5 billion revolving credit facility and link the
calculation of loan margins to the company's performance in meeting
sustainability and emissions reduction goals.
ArcelorMittal said the margin payable will increase or decrease
depending on its performance against "certain metrics related to
its environmental and sustainability performance," including "the
CO(2) intensity of ArcelorMittal's European operations and the
number of ArcelorMittal facilities globally which have been
certified by ResponsibleSteel by the end of each year."
The company also said the amended revolving credit facility is
"the largest ESG linked facility of its kind in the metals and
mining sector."
The steel and mining company said it "set a group-wide target of
reaching carbon neutrality by 2050, and a 30% CO(2) reduction
target for its European operations by 2030."
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
April 30, 2021 14:46 ET (18:46 GMT)
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