Nippon Steel Raises $200M Subordinated Loan to Refinance 2019 Bonds
Nippon Steel signed a 30 billion yen (about $200 million) subordinated loan on September 8, 2026, to be drawn down on September 11. The funds will be used to redeem public subordinated bonds issued in September 2019. The company expects rating agencies to treat 50% as equity for ratings and plans about ¥6 trillion in capital and business investments over the next five years, diversifying financing without diluting stockholders.