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RIO DE JANEIRO, Aug 28 (Reuters) - The board of Brazilian steelmaker Usiminas approved borrowing up to $150 million with a group of banks led by Deutsche Bank and ABN Amro Bank NV.
The decision to borrow the money from a club of banks was unveiled in a securities filing. The company, which is formally known as Usinas Siderurgicas de Minas Gerais SA, is struggling in the face of weaker domestic steel demand as the Brazilian economy languishes in recession. (Reporting by Guillermo Parra-Bernal and Stephen Eisenhammer; Editing by Chizu Nomiyama)