ArcelorMittal signs $6 billion five-year revolving credit facility

The world's largest steelmaker Luxembourg-based ArcelorMittal has announced that on March 18 it signed a US$6 billion five-year revolving credit facility, coordinated by Citigroup Global Markets Limited, Crédit Agricole Corporate and Investment Bank and HSBC Bank plc.
 
Accordingly, the new facility will replace the €5 billion revolving credit facility under ArcelorMittal's existing €17 billion credit facility agreement dated  November 30, 2006, and will be used for the general corporate purposes of the ArcelorMittal group. 
 
ArcelorMittal  stated that the facility attracted a very strong level of interest, allowing it to increase the amount of the facility from the launch amount of US$5 billion and to scale back the banks' initial commitment levels.