Salzgitter Klöckner-Werke GmbH, a subsidiary of Germany-based steelmaker Salzgitter Group, has announced that it has inked a €1.03 billion syndicated loan agreement for green steel production.
Accordingly, the company’s credit line of €560 million was raised to €680 million and a new €350 million guarantee was added into the agreement. The contract in question has a five-year term that can be extended twice.
“Our new syndicated financing is a very strong pillar in our financial strategy. The higher volume will give us further flexibility as we make the transformation towards green steel production,” Salzgitter AG CFO Burkhard Becker stated.