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):
October 22, 2004
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 Number) (IRS Employer
jurisdiction of Identification No.)
incorporation)
600 Grant Street, Pittsburgh, PA 15219-2800
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(Address of principal executive offices) (Zip Code)
(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 240.13a-4(c))
Item 1.01. Entry into a Material Definitive Agreement
On October 22, 2004, United States Steel Corporation completed the amendment and
restatement of its $600 million revolving credit facility, secured by all
domestic inventory and related assets, including receivables other than those
sold under its receivables sales program. The principal changes in the amended
and restated agreement are: 1) the maturity was extended until October 2009; 2)
the advance rates on semi-finished and raw materials were increased; 3) pricing
for both borrowings and undrawn commitments was reduced; 4) certain of the
required reserves were reduced; and 5) many of the restrictive covenants apply
now only when average availability under the facility is less than $100 million.
Borrowings on the facility will be used for working capital and general
corporate purposes.
Item 2.02. Results of Operations and Financial Condition
On October 26, 2004, United States Steel Corporation issued a press release
titled "United States Steel Corporation Reports 2004 Third Quarter Results." The
full text of the press release, together with related unaudited financial
information and statistics, is furnished herewith as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits
(c) Exhibits
99.1 Press Release dated October 26, 2004, titled "United States
Steel Corporation Reports 2004 Third Quarter Results,"
together with related unaudited financial information and
statistics.
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: October 26, 2004