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Stock impact report

South Korea's Posco raises $500 mln in three-year green bond - term sheet [Reuters]

POSCO Holdings Inc. American Depositary Shares (Each representing 1/4th of a share of) (PKX) 
Company Research Source: Reuters
Jan 17 (Reuters) - South Korea's steelmaker Posco has raised $500 million in a three-year U.S. dollar green bond, according to a term sheet reviewed by Reuters on Wednesday. The bond was priced at Treasuries plus 110 basis points (bps), the term sheet showed. Posco did not immediately respond to a request for comment. Final pricing for the bond was set 40 bps tighter than the initial price guidance given to investors earlier on Tuesday. Demand from investors reached $4 billion and 71% of the bond's buyers came from Asia Pacific, 19% from Europe and the Middle East and 10% from the U.S., according to a separate message from the book runners sent on Wednesday. There were more than 200 investors' place orders in the deal and asset and fund managers made up the majority of the buyers, the book message showed. South Korea's corporates have made a strong start to 2024, with Posco's bond one of a number of debt transactions currently underway in the country. SK Battery America Show less Read more
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