Japanese Banks Back Nippon Steel Acquisition of U. S. Steel

01/30/2024 - Nippon Steel Corp. has lined up US$16 billion in loans for its planned acquisition of United States Steel Corporation, the Reuters news service reports.

"We have received a commitment letter for a combined US$16 billion in loans from the three Japanese megabanks on condition that the acquisition goes through," a Nippon Steel spokesperson said, according to Reuters.

Reuters has more here.