Yonhap reported that South Korea's leading steelmaker POSCO has raised USD 2 billion by selling debts overseas, its largest-ever overseas debt sale. The three-tranche debt comprises three-year bonds worth USD 700 million, five-year bonds worth USD 1 billion and 10-year debts valued at USD 300 million. POSCO said the proceeds from the debt sale will help beef up its cash flows down the road amid rising market rates. POSCO's bond sale marks the first time a South Korean firm has sold dollar-denominated debt since 15 December, when the US Federal Reserve raised its key rate by 50 basis points. POSCO raised USD 1 billion by selling debts overseas in July 2022. Early this month, POSCO also raised KRW 700 billion (USD 563 million) by selling unsecured debts locally.
Yonhap reported that South Korea's leading steelmaker POSCO has raised USD 2 billion by selling debts overseas, its largest-ever overseas debt sale. The three-tranche debt comprises three-year bonds worth USD 700 million, five-year bonds worth USD 1 billion and 10-year debts valued at USD 300 million. POSCO said the proceeds from the debt sale will help beef up its cash flows down the road amid rising market rates. POSCO's bond sale marks the first time a South Korean firm has sold dollar-denominated debt since 15 December, when the US Federal Reserve raised its key rate by 50 basis points. POSCO raised USD 1 billion by selling debts overseas in July 2022. Early this month, POSCO also raised KRW 700 billion (USD 563 million) by selling unsecured debts locally.
