POSCO Launches $400 Million Cash Tender Offer for 2028 Notes

The offer targets the company's 5.750% notes, with the firm providing an incentive for early participation. Investors who tender their holdings by the July 14, 2026, deadline are eligible for an early tender premium, provided their notes are accepted. POSCO intends to cancel all securities acquired through this process.

Management has appointed The Hongkong and Shanghai Banking Corporation Limited and J.P. Morgan Securities LLC to serve as dealer managers for the transaction, while D.F. King & Co., Inc. will act as the information and tender agent. The company maintains the discretion to adjust the maximum acceptance amount or terminate the offer entirely based on market conditions and regulatory requirements. Settlement for early tenders is expected on July 20, 2026, followed by a final settlement date projected for July 31, 2026.