Thursday, 19 March 2009

New Issuance -- Posco Bond Guidance at 9%, Sources Says

This is information on the Posco bond sale -- which was initially scheduled for the start of the week. The unexpected announcement yesterday by the U.S. Federal Reserve messed valuations and guidance for this and other bonds (the Panama case was a special one, with its size being cut and the republic getting hurt by a reduction in issuance-related cost savings.)

Issuer: Posco
Ratings: A1 (negative) / A (stable)

Tenor: Five year

Size: To Be Defined

Yield Guidance: 9 Percent +/- 5 Basis Points

Bookbuilding: Citigroup Inc. / Deutsche Bank AG /Goldman Sachs Group Inc. /HSBC Holdings Plc. /Merrill Lynch & Co.

Timing : Today

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