New Issue: South Korea’s Posco prices $500 million of 2 3/8% notes due 2022

By Marisa Wong

Los Angeles, Nov. 12 – Pohang Iron and Steel Co. (Posco) issued $500 million of 2 3/8% notes due 2022 (Baa1/BBB+), according to a notice.

BNP Paribas, Citigroup Global Markets Inc., Hongkong and Shanghai Banking Corp. Ltd., Merrill Lynch International and Standard Chartered Bank are bookrunners for the Rule 144A and Regulation S notes.

Posco is a steel maker based in Pohang, South Korea.

Issuer:	Pohang Iron and Steel Co. (Posco)
Issue:	Notes
Amount:	$500 million
Maturity:	2022
Bookrunners:	BNP Paribas, Citigroup Global Markets Inc., Hongkong and Shanghai Banking Corp. Ltd., Merrill Lynch International and Standard Chartered Bank
Coupon:	2 3/8%
Settlement date:	Nov. 12
Ratings:	Moody’s: Baa1
	S&P: BBB+
Distribution:	Rule 144A and Regulation S

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