POSCO announces early tender results for 5.75% Notes due 2028
POSCO announced that it received early tenders totaling $358.2 million for its 5.75% Notes due 2028, exceeding 89% of the maximum amount it is willing to purchase. The company is offering to buy back up to $400 million in aggregate principal amount.
POSCO revealed on Monday the early results of its cash tender offer for its 5.75% Notes due 2028. The company announced that it has received valid tenders of $358.2 million in aggregate principal amount of the Notes. This figure represents over 89% of the maximum $400 million the company is willing to accept.
The tender offer, which commenced on June 30, 2026, allows noteholders who tendered their securities before the early tender deadline of July 14, 2026, to receive an early tender premium of $50 per $1,000 principal amount, in addition to the purchase price and accrued interest.
Noteholders who did not tender their securities by the early deadline still have until July 29, 2026, to participate in the offer. However, these late tenders will only be eligible to receive the tender offer consideration, which excludes the $50 early tender premium. The final acceptance amount will be determined after the expiration of the offer.
POSCO is one of South Korea's largest steel manufacturers and a significant player in the global metals and construction industries. This tender offer is part of the company's ongoing financial management strategy.