POSCO International Issues First-Ever Global Bond, Raising $500 Million

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POSCO International Corporation, a subsidiary of POSCO Holdings, has issued its first-ever global bond, raising $500 million in a five-year offering. The single-tranche bond was priced at 90 basis points over the five-year U.S. Treasury yield, tightening 30 basis points from initial guidance after attracting strong investor demand. The offering was four times oversubscribed, with total orders reaching approximately $2 billion, despite heightened volatility in global financial markets. Proceeds will be used to repay existing foreign-currency borrowings and for general corporate purposes. Asian investors accounted for 67% of allocations, followed by the United States at 27% and Europe at 6%, with asset managers representing 65% of investors.