Nippon Steel has raised 600 billion yen ($3.9 billion) from the sale of convertible bonds to help repay loans taken out to acquire US Steel . The sale was the biggest Japanese offering of its kind and has seen shares in the company slump as much as 6%. Nippon agreed to buy US Steel for $14.9 billion (roughly 2 trillion yen) in December 2023, with the acquisition being finalised in June 2025. Half of the bonds will mature in 2029, with the rest maturing in 2031. Nippon’s bridging loan of about 2 trillion yen, taken out to aid in the funding of the US Steel acquisition, will mature in June 2026. Source: Business Times