Metal producer BlueScope Steel (ASX:BSL) has executed a A$1.35 billion syndicated facility agreement.

The facility is made up of two equal A$675m tranches; a three year tranche maturing in December 2013, and a five year tranche maturing in December 2015.

BlueScope said this replaces the current $1.275 billion syndicated loan note facility which was due to mature in July 2011 (A$200m) and July 2012 (A$1,075m).

The company said 13 domestic and international banks from the existing bank syndicate are participating in the facility.

"The facility was arranged by four mandated lead arrangers and book runners, Australia and New Zealand Banking Group Ltd. Commonwealth Bank of Australia, National Australia Bank Ltd and Westpac Banking Corporation."