Nippon Steel secures $5.7 billion of loans for U.S. Steel takeover

Nippon Steel logo is displayed at the company's headquarters in Tokyo, Japan April 1, 2024.  (REUTERS/Issei Kato)


TOKYO, March 18 (Reuters) - Nippon Steel has secured loans totalling 900 billion yen ($5.67 billion) from the Japan Bank for International Cooperation (JBIC) and major Japanese private lenders for its acquisition of U.S. Steel, it said in a statement on Wednesday.

The lenders include Japan's three "megabanks" - Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corporation and Mizuho Bank - as well as Sumitomo Mitsui Trust Bank.

($1 = 158.7600 yen)


(Reporting by Kaori Kaneko and Anton Bridge; Editing by Jamie Freed)