South Korea's Posco plans dollar-denominated bonds

By Aaron Hochman-Zimmerman

New York, March 12 - Posco announced that it will offer a dollar-denominated deal following a roadshow to run March 16 through March 18, according to a market source.

Citigroup, Deutsche Bank, Goldman Sachs, HSBC and Merrill Lynch will act as joint bookrunners for the Rule 144A and Regulation S deal.

The bonds will feature a change of control put at 101.

Proceeds will be used for capital expenditures and the purchase of raw materials.

Posco is a Seoul-based steelmaker and manufacturing firm.

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