Nippon Steel Corp's record-breaking convertible bonds issuance highlights Japanese companies' efforts to secure cheaper financing than traditional debt, which is becoming more costly. The company raised 600 billion yen ($3.9 billion) on Tuesday, exceeding its initial plans, due to strong demand. The proceeds will be used to repay loans taken out to finance the acquisition of US Steel Corp. Expectations of increased government spending and interest rate hikes by the central bank have led to higher borrowing costs.
