POSCO Finalizes Pricing for Bond Buyback Offer
POSCO announced on July 16, 2026, the pricing results for its offer to repurchase up to US$400 million of its outstanding 5.750% notes due 2028. The company offered to buy back the debt instruments from bondholders.
POSCO, a South Korean steel conglomerate, has finalized the pricing for its cash tender offer to repurchase up to US$400 million in aggregate principal amount of its outstanding 5.750% notes due 2028. The offer, which commenced on June 30, 2026, targets a portion of the company's US$1 billion in notes maturing in 2028.
The company announced on July 16, 2026, that US$358,232,000 aggregate principal amount of notes were validly tendered and not withdrawn by the early tender deadline. As this amount was less than the maximum acceptance amount of US$400 million, POSCO has elected to accept all notes tendered early in full. The price for these notes was set at US$1,018.47 per US$1,000 principal amount, which includes a US$50 early tender premium and accrued interest.
The pricing was determined by referencing the yield on a U.S. Treasury security due June 30, 2028, plus a fixed spread of 30 basis points, resulting in a reference yield of 4.156%. A remaining US$41,768,000 is still available for purchase under the offer, which expires on July 29, 2026. Notes tendered after the early deadline will receive a lower price of US$968.47 per US$1,000 principal amount, excluding the early tender premium.
POSCO clarified that interest will cease to accrue on notes accepted for purchase after the respective settlement dates. An early settlement is expected on July 20, 2026. The announcement pertains to notes issued to investors in the U.S. and internationally.