UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported):
May 11, 2007
United States Steel Corporation
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(Exact name of registrant as specified in its charter)
Delaware 1-16811 25-1897152
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(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification No.)
incorporation)
600 Grant Street, Pittsburgh, PA 15219-2800
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(Address of principal executive (Zip Code)
offices)
(412) 433-1121
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(Registrant's telephone number,
including area code)
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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:
[ ] Written communications 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 communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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Item 1.01. Entry into a Material Definitive Agreement
On May 11, 2007, United States Steel Corporation (the "Corporation") entered
into an unsecured five-year $750,000,000 Credit Agreement (the "Credit
Agreement") with the lenders party thereto, the LC issuing banks party thereto
and JPMorgan Chase Bank, N.A. as Administrative Agent. The Credit Agreement
contains an interest coverage ratio (consolidated EBITDA to consolidated
interest expense) covenant of 2:1 and a leverage ratio (consolidated debt to
consolidated EBITDA) of 3.25:1 along with other customary terms and conditions.
The Credit Agreement replaces the Corporation's $600 million revolving credit
facility secured by inventory.
The Credit Agreement is filed herewith as Exhibit 10.1.
Item 9.01. Financial Statements and Exhibits
(c) Exhibits
10.1 CREDIT AGREEMENT dated as of May 11, 2007 among UNITED STATES STEEL
CORPORATION, the LENDERS party hereto, the LC ISSUING BANKS party
hereto, and JPMORGAN CHASE BANK, N.A., as Administrative Agent.
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/ Larry G. Schultz
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Larry G. Schultz
Vice President & Controller
Dated: May 15, 2007