UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): February 23, 2021 (February 23, 2021)
United States Steel Corporation
(Exact Name of Registrant as Specified in Charter)
| Delaware | 1-16811 | 25-1897152 | ||
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
600 Grant Street,
Pittsburgh, PA 15219-2800
(Address of Principal Executive Offices, and Zip Code)
(412) 433-1121
Registrant’s Telephone Number, Including Area Code
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock | X | New York Stock Exchange |
| Common Stock | X | Chicago Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 1.02. Termination of a Material Definitive Agreement.
On February 23, 2021, United States Steel Corporation (the “Company”) and its subsidiary United States Steel International, Inc. (together, the “Borrowers”) repaid in full all of the remaining outstanding indebtedness under the Export-Import Transaction Specific Loan and Security Agreement, dated September 30, 2020, by and among the Borrowers, the lenders party thereto and PNC Bank, National Association, as agent (the “Export-Import Credit Agreement”), consisting of approximately $168 million of principal plus accrued and unpaid interest thereon. The Export-Import Credit Agreement and related security interests were terminated in conjunction with such payment in full. The Export-Import Credit Agreement would have matured on August 30, 2021. No early termination penalties applied with respect to such voluntary prepayment in full prior to maturity.
The material terms of the Export-Import Credit Agreement are described in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on October 2, 2020 and in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 filed with the SEC on February 12, 2021. The foregoing descriptions of the Export-Import Credit Agreement do not purport to be complete and are subject to and qualified in their entirety by reference to the full text of the Export-Import Credit Agreement, which was filed as Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on October 2, 2020 and is incorporated by reference herein.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| UNITED STATES STEEL CORPORATION | ||
| By: | /s/ Manpreet S. Grewal | |
| Name: Manpreet S. Grewal | ||
| Title: Vice President & Controller | ||
Dated: February 23, 2021