{"id":388107,"date":"2020-11-24T16:20:03","date_gmt":"2020-11-24T21:20:03","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=388107"},"modified":"2020-11-24T16:20:03","modified_gmt":"2020-11-24T21:20:03","slug":"u-s-steel-closes-on-green-bonds-to-finance-low-emission-low-carbon-electric-arc-furnace-in-alabama","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/u-s-steel-closes-on-green-bonds-to-finance-low-emission-low-carbon-electric-arc-furnace-in-alabama\/","title":{"rendered":"U. S. Steel Closes on Green Bonds to Finance Low-Emission, Low-Carbon Electric Arc Furnace in Alabama"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\">\nU. S. Steel Closes on Green Bonds to Finance Low-Emission, Low-Carbon Electric Arc Furnace in Alabama\n<\/p>\n<p>PITTSBURGH&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nUnited States Steel Corporation (NYSE: X) today announced the closing of $63.4 million of Environmental Improvement Revenue Bonds with a green bond designation. The company will use proceeds from the green bonds to partially fund work related to its new environmentally preferred, low-emission electric arc furnace at U. S. Steel\u2019s Fairfield Works.\n<\/p>\n<p>\n\u201cOur first green bond is an important step forward for U. S. Steel in our drive toward more sustainable practices,\u201d said U. S. Steel President and Chief Executive Officer David B. Burritt. \u201cThis is doubly relevant for our new electric arc furnace, which recycles scrap steel as its primary feedstock and uses electricity for power. By partially funding the electric arc furnace, the green bond is helping advance our commitment to reduce greenhouse gas emissions intensity by 20 percent by 2030.\u201d\n<\/p>\n<p>\nThe green bonds issued through The Industrial Development Board of the City of Hoover, Alabama, have a coupon of 6.375% and carry a final maturity of 2050. In its agreement with the Alabama bond issuers, U. S. Steel will pay the semiannual interest and repay the principal upon maturity.\n<\/p>\n<p>\nFounded in 1901, the United States Steel Corporation is a Fortune 250 company and leading integrated steel producer. With extensive iron ore production and an annual raw steelmaking capability of 22 million net tons, U. S. Steel produces high value-added steel products for the automotive, infrastructure, appliance, container, and energy industries. The company\u2019s \u201cbest of both\u201d integrated and mini-mill technology strategy is advancing a more secure, sustainable future for U. S. Steel and its stakeholders. With renewed emphasis on innovation and customer focus, the company produces cutting-edge products such as U. S. Steel\u2019s proprietary XG3\u2122 advanced high-strength steel. U. S. Steel is headquartered in Pittsburgh, Pennsylvania, with world-class operations across the United States and in Central Europe. For more information, please visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.ussteel.com&amp;esheet=52336477&amp;newsitemid=20201124005993&amp;lan=en-US&amp;anchor=www.ussteel.com&amp;index=1&amp;md5=61baf3d1f2795789cb139420eae34551\">www.ussteel.com<\/a>.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201124005993r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20201124005993\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20201124005993\/en\/<\/a><\/span><\/p>\n<p>\nJohn O. Ambler<br \/>\n<br \/>Vice President<br \/>\n<br \/>Corporate Communications<br \/>\n<br \/>T \u2013 (412) 477-1719<br \/>\n<br \/>E \u2013 <a rel=\"nofollow\" href=\"mailto:joambler@uss.com\">joambler@uss.com <\/a><\/p>\n<p>\nKevin Lewis<br \/>\n<br \/>Vice President<br \/>\n<br \/>Investor Relations<br \/>\n<br \/>T \u2013 (412) 433-6935<br \/>\n<br \/>E \u2013 <a rel=\"nofollow\" href=\"mailto:klewis@uss.com\">klewis@uss.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> Pennsylvania Alabama United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Other Energy Construction &amp; Property Environment Energy Steel Building Systems Automotive Manufacturing Manufacturing<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20201124005993\/en\/809462\/3\/USS_abb_2955blue_300dpi_rgb.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>U. S. Steel Closes on Green Bonds to Finance Low-Emission, Low-Carbon Electric Arc Furnace in Alabama PITTSBURGH&#8211;(BUSINESS WIRE)&#8211; United States Steel Corporation (NYSE: X) today announced the closing of $63.4 million of Environmental Improvement Revenue Bonds with a green bond designation. The company will use proceeds from the green bonds to partially fund work related to its new environmentally preferred, low-emission electric arc furnace at U. S. Steel\u2019s Fairfield Works. \u201cOur first green bond is an important step forward for U. S. Steel in our drive toward more sustainable practices,\u201d said U. S. Steel President and Chief Executive Officer David B. Burritt. \u201cThis is doubly relevant for our new electric arc furnace, which recycles scrap steel as its primary feedstock &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/u-s-steel-closes-on-green-bonds-to-finance-low-emission-low-carbon-electric-arc-furnace-in-alabama\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;U. S. Steel Closes on Green Bonds to Finance Low-Emission, Low-Carbon Electric Arc Furnace in Alabama&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-388107","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>U. S. Steel Closes on Green Bonds to Finance Low-Emission, Low-Carbon Electric Arc Furnace in Alabama - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/u-s-steel-closes-on-green-bonds-to-finance-low-emission-low-carbon-electric-arc-furnace-in-alabama\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U. S. Steel Closes on Green Bonds to Finance Low-Emission, Low-Carbon Electric Arc Furnace in Alabama - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"U. S. Steel Closes on Green Bonds to Finance Low-Emission, Low-Carbon Electric Arc Furnace in Alabama PITTSBURGH&#8211;(BUSINESS WIRE)&#8211; United States Steel Corporation (NYSE: X) today announced the closing of $63.4 million of Environmental Improvement Revenue Bonds with a green bond designation. The company will use proceeds from the green bonds to partially fund work related to its new environmentally preferred, low-emission electric arc furnace at U. S. Steel\u2019s Fairfield Works. \u201cOur first green bond is an important step forward for U. S. Steel in our drive toward more sustainable practices,\u201d said U. S. Steel President and Chief Executive Officer David B. Burritt. \u201cThis is doubly relevant for our new electric arc furnace, which recycles scrap steel as its primary feedstock &hellip; Continue reading &quot;U. S. Steel Closes on Green Bonds to Finance Low-Emission, Low-Carbon Electric Arc Furnace in Alabama&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/u-s-steel-closes-on-green-bonds-to-finance-low-emission-low-carbon-electric-arc-furnace-in-alabama\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-24T21:20:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201124005993r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/u-s-steel-closes-on-green-bonds-to-finance-low-emission-low-carbon-electric-arc-furnace-in-alabama\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/u-s-steel-closes-on-green-bonds-to-finance-low-emission-low-carbon-electric-arc-furnace-in-alabama\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"U. 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The company will use proceeds from the green bonds to partially fund work related to its new environmentally preferred, low-emission electric arc furnace at U. S. Steel\u2019s Fairfield Works. \u201cOur first green bond is an important step forward for U. S. Steel in our drive toward more sustainable practices,\u201d said U. S. Steel President and Chief Executive Officer David B. Burritt. \u201cThis is doubly relevant for our new electric arc furnace, which recycles scrap steel as its primary feedstock &hellip; Continue reading \"U. S. Steel Closes on Green Bonds to Finance Low-Emission, Low-Carbon Electric Arc Furnace in Alabama\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/u-s-steel-closes-on-green-bonds-to-finance-low-emission-low-carbon-electric-arc-furnace-in-alabama\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-24T21:20:03+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201124005993r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/u-s-steel-closes-on-green-bonds-to-finance-low-emission-low-carbon-electric-arc-furnace-in-alabama\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/u-s-steel-closes-on-green-bonds-to-finance-low-emission-low-carbon-electric-arc-furnace-in-alabama\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"U. 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