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ILP, bestie Ashurst throw $5.15bn term loan lifeline to Arcelor-Nippon Steel JV from banks

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.


Deal value: $5.15 bn

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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