17
May
12:25
NSSMC issues new bonds
Japans Nippon Steel and Sumitomo Metal Corporation (NSSMC) says it has set terms for a bond issue to raise JPY 20 billion ($176.23 million). It does not say what the funds will be used for but interest rates are low and the company has capex plans, Kallanish notes.
The unsecured bonds are split into two JPY 10 billion tranches. The first will pay 0.22% annually and come due in May 2024, while the second will pay 0.375% annually and come due in May 2027. At the e…
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Very good overview of the weekly steel market.
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