Nippon gets $5.6B in loan funding for USS acquisition

Japan’s Nippon Steel has received loans totaling 900 billion yen ($5.6 billion) from Japan Bank for International Cooperation (JBIC) and other Japanese lenders to repay the bridge loan for its buy of Pittsburgh-based U.S. Steel.

“The funds raised through the JBIC co-financing will be used to repay the bridge loan used as consideration for the acquisition of shares in connection with the transaction of partnership with Nippon Steel’s US subsidiary and United States Steel Corporation,” the company said in a statement on Wednesday.

The other lenders include MUFG Bank, Sumitomo Mitsui Banking Corp., Mizuho Bank, and Sumitomo Mitsui Trust Bank.

Nippon completed its acquisition of USS back in June 2025 for ~$14.1 billion.

Ethan Bernard

Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

Ethan Bernard

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