POSCO has commenced a cash tender offer to purchase up to US$400 million aggregate principal amount of its outstanding 5.750% notes due 2028, out of a total US$1 billion principal amount outstanding. The offer includes an early tender premium of US$50 per US$1,000 principal amount for notes tendered by the early tender deadline of July 14, 2026, with early settlement expected on July 20, 2026. The tender offer consideration will be determined by reference to a fixed spread of 30 basis points over the 4.125% US Treasury due June 30, 2028. POSCO intends to fund the purchase using cash on hand and will cancel any notes acquired. The Hongkong and Shanghai Banking Corporation Limited and J.P. Morgan Securities LLC are acting as dealer managers.
POSCO HoldingsPOSCO is using cash to repurchase its own debt at a discount, reducing liabilities and interest expense.
HSBC Holdings PLC