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Mercedes-Backed H2 Green Steel Gets €4.55 Billion Debt Financing

  • Senior debt commitments from BNP, ING, UniCredit, among others
  • Finance package also comprises €500 million junior debt piece

H2 Green Steel has secured a total of €4.55 billion ($4.47 billion) in debt commitments to help the company build its first green steel plant in northern Sweden.

The Stockholm-based company signed senior long-term loan agreements for €3.3 billion from BNP Paribas SA, ING Groep NV, UniCredit SpA, Societe Generale SA, KfW IPEX Bank GmbH, as well as the Swedish Export Credit Corporation, according to a statement. The package also comprises a €750 million senior loan from the European Investment Bank and a €500 million junior debt facility.