POSCO succeeded in issuing overseas bonds for the first time among Korean companies this year, the largest ever.

POSCO announced on the 9th (local time) that it has issued three trench global bonds worth $2 billion, the largest ever, including a three-year maturity of $700 million, a five-year maturity of $1 billion, and a 10-year maturity of $300 million.

Interest rates are issued at an advantageous additional interest rate of +190bps for three-year U.S. bonds, +220bps for five-year bonds, and +250bps for 10-year bonds based on solid demand for safe assets from large global investors.

The bonds issued by POSCO this time are U.S. dollar public bonds issued by Korean companies for the first time in the global market shortly after the U.S. Fed raised its key interest rate by 50bp on Dec. 15 (local time) last year. 

 

The successful issuance at a time when financial market volatility is so high has once again been recognized by global investors as a blue-chip bond.

POSCO successfully issued 1 billion U.S. dollar global bonds in July last year and contributed significantly to the supply of domestic foreign currency liquidity and external credibility through the issuance of $2 billion.

POSCO's additional interest rate will be used as a benchmarking case for companies scheduled to issue overseas bonds this year.

 

 

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