Vinton Steel secures US$100 million equipment financing for its new mill
On October 24, 2025, Kyoei Steel Ltd. announced that its consolidated U.S. subsidiary, Vinton Steel LLC (“Vinton Steel”), secured part of the funding for its large-scale capital investment in the construction of a new steelmaking plant and partial modification of its rolling mill facility, by utilizing the Industrial Revenue Bond (“IRB”) tax-exempt bond program offered by the State of Texas.
Mission Economic Development Corporation, in Mission, Texas, issued US$100 million (approximately JPY ¥ 15 billion) of Series 2025 Solid Waste Disposal Reserve Bonds (Vinton Steel LLC Project) under the IRB program. The bonds, underwritten by Jefferies LLC and issued on October 23, 2025, carry a 10-year term and a floating interest rate starting at 2.65%.
Further information can be found on Kyoei Steel’s website.
Vinton Steel, located in El Paso, Texas, is a mini-mill that produces steel with Electric Arc Furnace (EAF) technology and uses ferrous scrap as a primary raw material.