Posco ends seven year hiatus with $500m bond sale

Steel_230
By Morgan Davis
26 Jul 2018

South Korea’s steel company Posco returned to the dollar bond market on Wednesday, breaking a seven year hiatus. It easily locked up a $500m trade after investors lapped up the rare notes.

Posco, formerly known as Pohang Iron and Steel Co, began courting global investors earlier this month, preparing them for the steel giant’s bond market return. Investors were eager to buy a non-state-owned South Korean credit. With a Baa1/BBB+ rating, Posco offers a bit more spread that the government-owned ...

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