New Issue: South Korea’s Posco prices $940 million, €500 million notes due 2023, 2024, 2025

By Marisa Wong

Los Angeles, Jan. 17 – Pohang Iron and Steel Co. (Posco) issued a total of $940 million and €500 million of notes (Baa1/BBB+) on Friday, according to notices.

Specifically, Posco issued $500 million of 2 3/8% three-year notes, €500 million of ˝% four-year notes and $440 million of 2˝% five-year notes.

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:	$940 million, €500 million
Bookrunners:	BNP Paribas, Citigroup Global Markets Inc., Hongkong and Shanghai Banking Corp. Ltd., Merrill Lynch International and Standard Chartered Bank
Settlement date:	Jan. 17
Ratings:	Moody’s: Baa1
	S&P: BBB+
Distribution:	Rule 144A and Regulation S
2023 notes
Amount:	$500 million
Maturity:	Jan. 17, 2023
Coupon:	2 3/8%
2024 notes
Amount:	€500 million
Maturity:	Jan. 17, 2024
Coupon:	˝%
2025 notes
Amount:	$440 million
Maturity:	Jan. 17, 2025
Coupon:	2˝%

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