ArcelorMittal, Nippon Steel sign $5.15 bln loan pact to refinance Essar Steel buy

Japan's biggest steelmaker Nippon Steel Corp said on Tuesday its joint venture with ArcelorMittal has signed a $5.Asian Metal Copyright Last November, India's Supreme Court cleared the path for ArcelorMittal to take over bankrupt Essar Steel, following a legal tussle that had dragged through multiple courts for over two years.Asian Metal Copyright15 billion loan agreement with Japanese banks, including Japan Bank for International Cooperation.

The 10-year-term loan would be used to refinance their acquisition of Essar Steel India, now known as ArcelorMittal Nippon Steel India Ltd.

Other banks part of the loan pact are MUFG Bank Ltd., Sumitomo Mitsui Banking Corp, Mizuho Bank Europe N.Asian Metal Copyright, Sumitomo Mitsui Banking Corp, Mizuho Bank Europe N.Asian Metal CopyrightV.Asian Metal Copyright London Branch, Nippon Steel said in a statement.Asian Metal Copyright and Sumitomo Mitsui Trust Bank Ltd.Asian Metal Copyright15 billion loan agreement with Japanese banks, including Japan Bank for International Cooperation.Asian Metal Copyright (London Branch), Nippon Steel said in a statement.

Last November, India's Supreme Court cleared the path for ArcelorMittal to take over bankrupt Essar Steel, following a legal tussle that had dragged through multiple courts for over two years.

.Asian Metal CopyrightJapan's biggest steelmaker Nippon Steel Corp said on Tuesday its joint venture with ArcelorMittal has signed a $5.Asian Metal Copyright