Cleveland-Cliffs announced that it successfully amended its $4.75 billion asset-based lending facility, which is a loan that uses assets as collateral to secure funding as part of financing for the pending acquisition of Stelco Holdings.

The company has replaced Goldman Sachs’ participation with increased commitments from Bank of America, Wells Fargo, J.P. Morgan, Fifth Third, Truist, Capital One, BMO, Huntington and U.S. Bank.

Additionally, PNC, Flagstar, UBS, MUFG, Regions, Barclays, ING, RBC and First Citizens have maintained their existing commitments to the asset-based lending facility.

As of the finalization of the amendment, Cleveland-Cliffs had no net borrowings on its asset-based lending facility.