The tender offer, which commenced on June 30, sought to reduce the company's debt burden by retiring a portion of its long-term securities. While the majority of the notes were secured during the initial window, the late tender period resulted in an additional $800,000 in principal amount being accepted. Investors who participated after the early deadline will receive the standard tender offer consideration, which is reduced by an early tender premium of $50 per $1,000 of principal.
POSCO Closes Cash Tender Offer for 2028 Notes
South Korean steel giant POSCO has finalized its tender offer to repurchase up to $400 million of its outstanding 5.750% notes due in 2028. The company confirmed that a total of $800,000 in notes were validly tendered during the late period, following an earlier buyback of $358.2 million.
Final settlement for the late-tendered notes is scheduled for July 31, 2026. Following the transaction, POSCO intends to cancel all acquired securities. The company, which operates as a subsidiary of POSCO Holdings, confirmed that all payments will be processed through The Depository Trust Company. The offer was managed by a syndicate including J.P. Morgan Securities and The Hongkong and Shanghai Banking Corporation.
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