Nippon Steel Gets ¥90 Billion Via First Bond Since US Steel (1)

Nippon Steel Corp. raised ¥90 billion ($560 million) via its first straight-bond offering since completing the acquisition of United States Steel Corp.

The 10-year tranche of the multi-part sale carried a 3.202% coupon, the highest for the company in about 30 years, according to data compiled by Bloomberg.

Those notes were priced at a spread of 54 basis points over Japanese government bonds, the widest since 1998, data compiled by Bloomberg showed. The five-year tenor was sold at 47 basis points, versus 27 basis points for a Sumitomo Metal Mining Co. deal last week, which had a slightly lower ...