India, July 3 -- Japanese steel major Nippon Steel Corp. (NISTY.PK), which closed its $14.9 billion acquisition of United States Steel Corp. in mid-June, announced Thursday that it has signed up to 500 billion yen worth subordinated term loan agreements to partially repay the short-term loans taken out for the merger.
Nippon Steel will also obtain a new subordinated term loans totaling 300 billion yen to refinance a previous loan.
In Tokyo, Nippon Steel shares gained 4.4 percent to close Thursday's regular trading at 2,850.00 yen.
The short-term loans or Bridge Loans were taken for the merger between Nippon Steel's subsidiary in the U.S. and U.S. Steel.
The maximum total loan amount would be 500 billion yen, comprising Tranche A of 160 ...