AMNS Luxembourg Holding S.A., the joint venture between Nippon Steel Corporation and ArcelorMittal has entered into a $5.14 billion (about Rs 38,000 crore) term loan agreement to refinance a loan taken for acquiring the erstwhile Essar Steel India, now renamed as ArcelorMittal NipponSteel India (AM/NS India). This will include the amount borrowed under the $7 billion bridge term facilities agreement guaranteed by ArcelorMittal, the latter said in a statement on Tuesday. — The Economic Times

Indian Law Partners (ILP) advised Japan Bank for International Cooperation (JBIC) led by a team of Indian Law partners (ILP) advised JBIC on the Indian leg of the deal led by a team of partners Gopika Pant and Vineet Gupta, along with senior associate Abhimanyu Kaul and associates Shubhangi Gupta, Pankti Lapasia and Pranav Mandaliya.

Also advising was Ashurst‘s Tokyo office.

2020-03-17

Deal value: $5.15 bn

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