POSCO-debt sale

POSCO raises US$1 bln via overseas debt sale

SEOUL, July 29 (Yonhap) -- POSCO, South Korea's top steelmaker, said Friday that it has raised US$1 billion by selling debts overseas.

The two-tranche debt comprises three-year bonds worth $700 million and five-year bonds worth $300 million, according to the steelmaker.

POSCO said the proceeds from the debt sale will help beef up its cash flows down the road amid rising market rates.

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