POSCO in $500 Million Notes Offering

July 15, 2019

Cleary Gottlieb represented POSCO in its Rule 144A/Reg. S offering of $500 million 2.75% notes due 2024.

The notes were issued as “sustainability bonds” under the POSCO Sustainable Financing Framework.

The notes were listed on the Singapore Exchange. The offering priced on July 8, 2019, and closed on July 15, 2019. BofA Merrill Lynch, BNP Paribas, HSBC, and Standard Chartered Bank were the joint bookrunners.

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