Cleary Gottlieb represented POSCO in its Rule 144A/Reg. S offering of $500 million 2.375% notes due 2022.
The notes were listed on the Singapore Exchange. The offering priced on November 4, 2019, and closed on November 12, 2019. BofA Merrill Lynch, BNP Paribas, Citigroup, 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.