United States Steel Corporation · NYSE:X
United States Steel — Corporate Update (October 2019)
6 slides from United States Steel's corporate update, Oct 17, 2019
Slide 1: U. S. Steel Executing Financing to Support "Best of Both" Strategy
October 17, 2019 U. S. Steel Executing Financing to Support “Best of Both” Strategy Financing Update www.ussteel.com
Slide 2: Forward-looking Statements
Forward - looking Statements This presentation contains “forward - looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, concerning trends, market forces, commitments, material events and o
Slide 3: Funding the execution of our strategy
Funding the execution of our strategy 3 2019 ~$60M • “Best of Both” leverages integrated and mini mill technology to become world competitive • Launched activities to raise ~$1.1 billion incremental capital to enable execution of our strategy - October 10: Environmental revenue bonds ~$300 million -
Slide 4: Best of Both strategy transforms business to drive long term cash flow
x Competitive positioning in strategic, high - margin end markets x Unparalleled product platform to serve customers x Big River will unlock value across our entire footprint 4 Transforms business to drive long term cash flow through industry cycles * Following U. S. Steel’s acquisition of the remai
Slide 5: Launched activities to raise ~$1.1 billion incremental capital
Launched activities to raise ~$1.1 billion incremental capital to enable execution of our strategy 5 ~$2.3B USSK Revolver Environmental Revenue Bonds ~$300M Vendor Supported Financing Senior Notes ~$300M ~$280M ~$700M ~$700+M Upsize U.S. ABL Financing Scenario Status Key Takeaways • Priced private o
Slide 6: Path to completing key elements of our financing strategy before 3Q earnings
6 ABL Bank Meeting / ERB Launch October 10 ERB Pricing 1 Late October ABL Closing Late October 3Q 2019 Earnings Release Expected October 31 Convertible Bond Pricing October 16 Convertible Bond Launch October 15 1 Subject to market conditions Path to completing key elements of our financing strategy
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