By Stephen Nakrosis 
 

ArcelorMittal said Friday it reached agreement with lenders to amend its $5.5 billion revolving credit facility and link the calculation of loan margins to the company's performance in meeting sustainability and emissions reduction goals.

ArcelorMittal said the margin payable will increase or decrease depending on its performance against "certain metrics related to its environmental and sustainability performance," including "the CO(2) intensity of ArcelorMittal's European operations and the number of ArcelorMittal facilities globally which have been certified by ResponsibleSteel by the end of each year."

The company also said the amended revolving credit facility is "the largest ESG linked facility of its kind in the metals and mining sector."

The steel and mining company said it "set a group-wide target of reaching carbon neutrality by 2050, and a 30% CO(2) reduction target for its European operations by 2030."

 

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

April 30, 2021 14:46 ET (18:46 GMT)

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