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ACL - Conclusion of the renewal of the Revolving Borrowing Base Facility by ArcelorMittal and AMRAS
ArcelorMittal South Africa Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1989/002164/06)
Share Code: ACL
ISIN: ZAE000134961
(“ArcelorMittal South Africa” or the “Company”)
NOTICE IN TERMS OF SECTION 45(5) OF THE COMPANIES ACT, 2008 (THE “ACT”), AS IT
PERTAINS TO THE CONCLUSION OF THE RENEWAL OF THE REVOLVING BORROWING BASE
FACILITY (THE “FACILITY”) BY ARCELORMITTAL SOUTH AFRICA AND ARCELORMITTAL RAIL
AND STRUCTURES PROPRIETARY LIMITED (“AMRAS”).
Shareholders are informed that an amendment and restatement of the Facility (“Amendment and
Restatement Facility”) has now been concluded by ArcelorMittal South Africa and its subsidiary,
AMRAS with HSBC Bank plc – Johannesburg Branch, Absa Bank Limited and other lenders. In addition
to a renewal of the Facility, the Facility was increased from R3, 500,000,000 to R4, 500,000,000.
The Facility was arranged by HSBC Bank plc (as Co-ordinating Mandated Lead Arranger, Agent and
Borrowing Base Agent), HSBC Bank plc – Johannesburg Branch (Bookrunner and Mandated Lead
Arranger) and Absa Bank Limited (Bookrunner and Mandated Lead Arranger).
In terms thereof, ArcelorMittal South Africa and its subsidiary, AMRAS, are granted the Facility with a
36-month tenor which includes a 12-month run-off period commencing from the 25th month of the
Facility, to finance their working capital and general corporate purposes.
The Amendment and Restatement Facility agreement is subject to the usual conditions precedent
related to such financing agreements, which we expect should be fulfilled shortly.
Shareholders are also notified in terms of section 45(5) of the Act that ArcelorMittal South Africa and its
subsidiary AMRAS 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 Amendment and Restatement Facility agreement
and related security documents.
Vanderbijlpark Works
23 August 2023
For further information please contact:
Mr Tami Didiza
Group Manager: Stakeholder Engagement and Communications
Tel: (016) 889 2352
Sponsor to ArcelorMittal South Africa Limited
Absa Bank Limited (acting through its Corporate and Investment Banking division)
Date: 23-08-2023 03:30:00
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