The Japanese steelmaker’s 10-year bond marks its first debt sale since acquiring US Steel in June 2025.
Nippon Steel has raised ¥90 billion through a multi-part bond offering, its first since completing the $14.9 billion acquisition of US Steel. The 10-year tranche carries a 3.202% coupon, the highest for the company in recent years.
The offering follows the June 2025 takeover, which expanded Nippon Steel’s global footprint but increased its debt load. Prior bond sales by the company had featured lower coupon rates, reflecting tighter credit conditions.
The bonds were priced amid steady demand from institutional investors, signaling confidence in the company’s post-acquisition strategy.