The initial loan of 500 billion yen will serve to partially settle a short-term loan of 2 trillion yen acquired in June. The second, amounting to 300 billion yen, will serve to refinance a current subordinated loan of 450 billion yen.
The company will obtain financial support from three major banks in Japan - Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, and Mizuho Financial Group, along with the Sumitomo Mitsui Trust and the Development Bank of Japan.
After acquiring US Steel, Nippon Steel's debt-to-equity ratio increased to approximately 0.8x compared to 0.35x at the end of March. The organization intends to lower the ratio to 0.7x by the conclusion of March next year.
source: ft.com
The company will obtain financial support from three major banks in Japan - Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, and Mizuho Financial Group, along with the Sumitomo Mitsui Trust and the Development Bank of Japan.
After acquiring US Steel, Nippon Steel's debt-to-equity ratio increased to approximately 0.8x compared to 0.35x at the end of March. The organization intends to lower the ratio to 0.7x by the conclusion of March next year.
source: ft.com