JBIC to Jointly Lend 550 M. Dlrs to Brazilian Steelmaker

September 26, 2008

Tokyo, Sept. 26 (Jiji Press)–The Japan Bank for International Cooperation said Friday it has signed an accord to join forces with three Japanese banks to lend up to 550 million dollars to a Brazilian steelmaker unit.

The subsidiary of Usinas Siderurgicas de Minas Gerais SA, also known as Usiminas, plans to use the loan to build a new steel plant, the government-affiliated bank said.

Of the total loan, 275 million dollars will be put up by JBIC while the rest will be financed by Mizuho Corporate Bank, Bank of Tokyo-Mitsubishi UFJ and Sumitomo Mitsui Banking Corp.

Usiminas is affiliated with Nippon Steel Corp. . END

(c) 2008 Jiji Press English News Service. Provided by ProQuest LLC. All rights Reserved.

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