US Steel takes a loan of 300 million, the first with green liabilities in Slovakia – Korzár Košice

KOŠICE. At the end of September, US Steel Košice (USSK) signed the first loan with green liabilities in Slovakia in the amount of EUR 300 million.

In addition to the metallurgical company US Steel Košice, its signatories are also banks coordinated by ING Bank NV

Unlike traditional loans, sustainable credit is linked to environmental and social responsibility commitments, including annual emission reductions.

Ľubomíra Šoltésová from USSK informed about it.

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It does not require property security

“An unsecured loan does not require collateral with the company’s assets. The terms of the loan agreement oblige us to meet specific goals and values ​​in the area of ​​sustainability in accordance with the corporate strategy, “said US Steel Košice Vice President for Financing Silvia Gaálová.

An unsecured sustainable revolving loan agreement of EUR 300 million was entered into by US Steel Košice at the end of September, replacing the previous loan agreement of EUR 460 million, which was concluded on 26 September 2018.

The new loan agreement is concluded for a period of five years, is valid until September 29, 2026 and also includes a so-called accordion, which allows USSK to request an increase in the credit limit by an additional EUR 200 million during the first 12 months of the agreement.

The costs associated with drawing or not drawing a loan agreement during its term will increase or decrease depending on the achievement of US Steel’s three sustainability goals in the area of ​​US Steel’s global carbon intensity, US Steel’s global performance in safety and USSK certification from ResponsibleSteel ™.

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