Nippon Steel announced on Wednesday that it has obtained loans totaling 900 billion yen (approximately $5.67 billion) from the Japan Bank for International Cooperation (JBIC) and major private lenders in Japan. The financing is intended to fund its acquisition of U.S. Steel.
The group of lenders includes Japan's three "megabanks"—Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, and Mizuho Financial Group—as well as Sumitomo Mitsui Trust Holdings.
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