POSCO in €1.07 Billion Convertible Green Bond Offering

September 1, 2021

Cleary Gottlieb represented POSCO in its Reg S €1.0659 billion offering of zero coupon convertible bonds due 2026.

The bonds were issued as “green bonds” under the POSCO sustainable financing framework.

The offering priced on August 13, 2021, and closed on September 1, 2021.

The bonds were listed on the Singapore Exchange. J.P. Morgan, BNP Paribas, and HSBC were the joint global coordinators and bookrunners.

POSCO is one of the largest steel producers in the world based on annual crude steel production and the largest fully integrated steel producer in Korea.