UNITED STATES STEEL CORP: entering into a material definitive agreement, terminating a material definitive arrangement, creating a direct financial obligation or obligation under an off-balance sheet arrangement of a declarant, financial statements and documents evidence (form 8-K)

By Tim N. Goodin Last updated Oct 1, 2021

Article 1.01. Signing of an important definitive agreement

At September 29, 2021, US Steel Košice, sro (“USSK”), a company incorporated under the laws of Slovak Republic and a wholly owned subsidiary of United States Steel Company (the “Company”), and Ferroenergy sro, a company incorporated under the laws of Slovak Republic and a wholly owned subsidiary of USSK, as guarantor, has entered into an unsecured sustainable development revolving credit facility (the “USSK Credit Agreement”) with the lenders party thereto. USSK Credit Agreement Replaces USSK Credit Agreement 460,000,000 EUR multi-currency revolving credit facility dated September 26, 2018, as amended from time to time (the “Prior Facility”). The USSK credit agreement provides for a 300,000,000 EUR
unsecured revolving credit facility that expires on September 29, 2026. The USSK Credit Agreement also includes an accordion which allows USSK to request, at any time during the first 12 months of the agreement, an increase in the total amount of the commitment up to an additional amount. 200,000,000 EUR. The USSK Credit Agreement contains customary representations and warranties, affirmative covenants, negative covenants and events of default and other terms and conditions substantially similar to the prior facility.

The foregoing descriptions of the USSK Credit Agreement do not purport to be complete and are submitted and qualified in their entirety to the Full Text of the USSK Credit Agreement, which is attached as Exhibit 10.1 and is incorporated herein by reference.

Item 1.02 Termination of a Material Definitive Agreement

At September 29, 2021, in connection with entering into the USSK Credit Agreement, USSK voluntarily canceled the prior facility. The Prior Facility would have expired on September 26, 2023. No early termination penalty is applied in respect of such voluntary cancellation before the deadline.

The material terms of the prior facility are described in the company’s current report on Form 8-K filed with the Security and Trade Commission
(the “SEC”) on October 2, 2018 . The foregoing descriptions of the Prior Facility do not purport to be complete and are submitted and qualified in their entirety by reference to the full text of the Prior Facility, which has been filed as

Exhibit 10.1 of the company’s current report on Form 8-K filed with the
SECOND to October 2, 2018 and is incorporated herein by reference.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant

The information in Item 1.01 of this current report on Form 8-K is incorporated into Item 2.03 by reference.

Item 9.01 Financial statements and supporting documents

(d) Exhibits:

Exhibit No.        Description

  10.1             €300,000,000 Unsecured Sustainability Linked Revolving Credit Facility, dated
                   September 29, 2021, for U. S. Steel Košice, s.r.o., guaranteed by Ferroenergy
                   S.R.O., arranged by ING Bank N.V. acting through ING Bank N.V., Pobo?ka
                   Zahrani?nej Banky, Slovenská Sporite??a, A.S., Komer?ní Banka, A.S. acting
                   through Komer?ní Banka, A.S., Pobo?ka Zahrani?nej Banky, and Unicredit Bank
                   Czech Republic and Slovakia, A.S. acting through Unicredit Bank Czech Republic
                   and Slovakia, A.S., Pobo?ka Zahrani?nej Banky, and Unicredit Bank Czech
                   Republic and Slovakia, A.S. acting through Unicredit Bank Czech Republic and
                   Slovakia, A.S., Pobo?ka Zahrani?nej Banky as Mandated Lead Arrangers, and
                   ?eskoslovenská Obchodná Banka, A.S. and Citibank Europe Plc acting through
                   Citibank Europe Plc, Pobo?ka Zahrani?nej Banky as Lead Arrangers, with ING
                   Bank, N.V. as Bookrunner and Coordinator, Facility Agent, Documentation Agent
                   and Sustainability Coordinator.*

104                Cover Page Interactive Data File (embedded within the Inline XBRL document).

* Annexes and exhibits have been omitted in accordance with Article 601 (b) (10) (iv) of Regulation SK. The society hereby undertakes to provide additional copies of the annexes and omitted documents at the request of the United States Securities Commission.

————————————————– ——————————-

Source link