Japan Steel Works plans to issue convertible bonds to raise $3.9 billion, the largest scale ever for a Japanese company
Nippon Steel stated that it will increase the issuance scale of its convertible bonds to 600 billion yen (approximately 3.85 billion USD), setting a record high in Japanese corporate history, for refinancing its 15 billion USD acquisition of United States Steel Corporation (X.US) and funding business expansion.
The company indicated that, based on investor demand and market conditions, it plans to increase the total amount of bonds to be issued in two equal batches by 50 billion yen. The company plans to invest 6 trillion yen over the next five years, which includes an investment of 11 billion USD in United States Steel Corporation to support business growth
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