New Issue: Korea's Posco prices $700 million 4¼% notes due 2020 at 99.557 to yield 4.305%

By Christine Van Dusen

Atlanta, Oct. 21 - Korea's Posco priced $700 million 4¼% notes due Oct. 28, 2020 (A2/A/) at 99.557 to yield 4.305%, or Treasuries plus 179 basis points, a market source said.

BNP Paribas, Bank of America Merrill Lynch, Deutsche Bank, Goldman Sachs and Morgan Stanley were the bookrunners for the Rule 144A and Regulation S transaction, which is non-callable.

Posco is a Pohang, South Korea-based integrated steel producer.

Issuer:	Posco
Amount:	$700 million
Maturity:	Oct. 28, 2020
Description:	Senior notes
Bookrunners:	BNP Paribas, Bank of America Merrill Lynch, Deutsche Bank, Goldman Sachs, Morgan Stanley
Coupon:	4¼%
Price:	99.557
Yield:	4.305%
Spread:	Treasuries plus 179 bps
Call features:	Non-callable
Trade date:	Oct. 21
Settlement date:	Oct. 28
Ratings:	Moody's: A2
	Standard & Poor's: A
Distribution:	Rule 144A and Regulation S

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