Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 218

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 218
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8 (amended on April 27, 2021) to incorporate a single tranche of $5.5 billion maturing on May 29, 2029, with two one-year extension options at the lenders’ discretion (i.e., the options to extend are to be exercised before the dates that are respectively one and two years after the signing date of the agreement). The Facility may be used for general corporate purposes and was fully available as of December 31, 2024. On September 30, 2010, ArcelorMittal entered into a $500 million revolving multi-currency letter of credit facility (the “Letter of Credit Facility”). The Letter of Credit Facility is used by the Company and its subsidiaries for the issuance of letters of credit and other instruments. The terms of the letters of credit and other instruments contain certain restrictions as to duration. The Letter of Credit Facility, whose amount and maturity have been revised from time to time, amounted to $395 million . On July 31, 2024, the Company refinanced its Letter of Credit Facility by entering into a $445 million revolving multi-currency letter of credit facility, which extended the maturity from July 31, 2024 to July 31, 2027, with two one-year extension options. Mandatory convertible bond On March 14, 2023, the Co mpany through its wholly-owned subsidiary Hera Ermac made an early repayment of 226,666 of the 666,666 outstanding unsecured and unsubordinated bonds mandatorily convertible into preferred shares of such subsidiary for a total cash consideration of $340 million. See notes 11.2 and 11.2 to the consolidated financial statements. On December 21, 2023, the Company extended the conversion date of its bonds mandatorily convertible into preferred shares to January 30, 2026. Working capital management The Company makes drawdowns from and repayments on the Facility in the framework of its cash management. In addition, the Company has established a number of programs for sales without recourse of trade accounts receivable to various

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financial institutions (referred to as true sale of receivables (“TSR”)). As of December 31, 2024, the total amount of trade accounts receivables sold amounted to $4.4 billion . Through the TSR programs, certain operating subsidiaries of ArcelorMittal surrender the control, risks and benefits associated with the accounts receivable sold; therefore, the amount of