Japan Bank for International Cooperation has signed a syndicated loan agreement amounting to 900 billion yen ( US$5.7 billion ) with Nippon Steel Corporation.

The loan, including US$3.7 billion from JBIC, is co-financed with MUFG Bank, Sumitomo Mitsui Banking Corporation, Mizuho Bank, and Sumitomo Mitsui Trust Bank. It is intended to finance part of the funds necessary for securing shares in connection with the merger of Nippon Steel’s US subsidiary and United States Steel Corporation ( US Steel ). 

The funds raised through the JBIC co-financing will repay bridge loans used for the 2025 acquisition. Nippon Steel signed a committed subordinated term loan amounting to 500 billion yen in September 2025 and offered euro-denominated convertible bonds earlier this month. Thus, the bridge loans are now repaid in their entirety. 

Nippon Steel aims to achieve a global annual crude steel production capacity of 100 million tonnes. The expansion will focus on markets with strong growth potential and suited to its technological and product strengths. 

The US ranks as the world’s third-largest consumer of steel and the largest market for high-grade steel. Nippon Steel plans to invest US$11 billion in US Steel plants by 2028. And by introducing state-of-the-art operational, equipment, and product technologies cultivated in Japan, it aims to boost the company’s profits by US$3 billion starting in 2030.