Posco ready to price dollar bond deal

Korea's largest steelmaker is set to launch the first US dollar issue this year by an Asian private company.

Posco, South Korea's largest steelmaker and the world's fourth biggest, plans to raise a minimum of $500 million from the sale of five-year senior global US dollar bonds, and could price the deal as early as Thursday evening, New York time, according to banking sources.

The transaction would mark the first US dollar bond offering from an Asian corporate this year, and the first since the $1 billion issue by Hong Kong and China Gas in July 2008.  ...

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