The steelmaker will pay US$1,018.47 per US$1,000 for early tenders accepted in full, leaving US$41.768 million available for late tenders before the July 29 expiration.
POSCO priced its cash tender offer for outstanding 5.750% Notes due 2028 after receiving US$358,232,000 principal amount by the July 14 early deadline, below its US$400,000,000 maximum acceptance amount. The company said all notes validly tendered early will be accepted in full, with no proration, and set the Early Tender Offer Consideration at US$1,018.47 per US$1,000 principal amount and the Tender Offer Consideration at US$968.47 per US$1,000. The pricing was based on a 4.156% reference yield for the 4.125% U.S. Treasury due June 30, 2028 plus a fixed spread of 30 basis points. POSCO said holders of accepted notes will also receive accrued interest up to, but excluding, the applicable settlement date. Early settlement is expected on July 20, 2026, while late tenders submitted by July 29 will compete for the remaining US$41,768,000 and may be prorated if they exceed that amount. Final settlement is expected on July 31, 2026, and POSCO said it intends to cancel notes purchased in the offer.