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ACL - Conclusion of a ZAR4,500,000,000 Revolving Borrowing Base Facility
ArcelorMittal South Africa Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1989/002164/06)
Share Code: ACL
ISIN: ZAE000134961
(“ArcelorMittal South Africa”)
CONCLUSION OF A ZAR 4,500,000,000 REVOLVING BORROWING BASE FACILITY
(“THE FACILITY”) BY ARCELORMITTAL SOUTH AFRICA LIMITED
(“ARCELORMITTAL”) and SALDANHA STEEL PROPRIETARY LIMITED (“SALDANHA
STEEL”). THE FACILITY WAS ARRANGED BY DEUTSCHE BANK (COORDINATING
MANDATED LEAD ARRANGED AND BOOKRUNNER) AND ABSA BANK LIMITED
(MANDATED LEAD ARANGER AND BOOKRUNNER).
Shareholders have been informed previously that ArcelorMittal was investigating the
possibility of securing a facility to finance its working capital as part of its balance sheet
restructuring.
A borrowing base facility (“Facility Agreement”) has now been concluded by ArcelorMittal and
its subsidiary, Saldanha Steel with amongst others Deutsche Bank, ABSA Bank and other
Lenders in terms of which ArcelorMittal and its subsidiary, Saldanha Steel are granted the
Facility with a 36 month tenor, to finance their working capital and general corporate
purposes.
The Facility Agreement is subject to certain conditions precedent.
Shareholders are also notified in terms of section 45(5) of the Companies Act, 2008 that
ArcelorMittal and its subsidiary Saldanha Steel have resolved, inter alia, to provide financial
assistance to each other in the form of guarantees for each other’s obligations in terms of the
Facility Agreement and related security documents.
24 May 2017
Vanderbijlpark Works
For further information please contact:
Mr Themba Sepotokele
Manager: Corporate Communications, Corporate Affairs
Tel: (016) 889 2425
Sponsor to ArcelorMittal South Africa Limited
Absa Bank Limited (acting through its Corporate and Investment Banking division)
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