September 26, 2008

JBIC to Jointly Lend 550 M. Dlrs to Brazilian Steelmaker

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

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