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POSCO Redeems $360 Million in Foreign Currency Bonds on July 15

2026-07-15 05:09:38

According to Yonhap Infomax, POSCO redeemed $360 million in foreign currency bonds via debt tender offer on July 15. The bonds are 5.75% fixed-rate, 5-year dollar notes issued in 2023 with maturity in January 2028. The company financed the redemption from existing cash reserves with no new borrowing. POSCO expects to save approximately $31 million in future interest expenses. The redemption reduces total outstanding debt from $1 billion to $640 million.

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