Nippon Steel announced that it will issue convertible bonds totaling ¥600 billion in overseas markets. The proceeds are expected to be used to fund the acquisition of US Steel, which is estimated at approximately $14.1 billion, or about ¥2 trillion, as of June 2025.
Nippon Steel disclosed on the 24th that it will issue ¥600 billion in total of convertible bond-type bonds with stock acquisition rights (CBs) in overseas markets.
The proceeds raised through the issuance are reportedly expected to be used to fund the acquisition of US Steel.
The funding requirement is estimated at approximately $14.1 billion, or about ¥2 trillion, as of June 2025, with the specific use of proceeds described as financing the acquisition of US Steel.