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POSCO E&C Issues 400 Billion Won Perpetual Bonds at 6.35%, Debt Ratio to Drop to 140%

GateNews
According to Yonhap Infomax, South Korean construction company POSCO E&C issued 400 billion won in perpetual subordinated bonds on July 20 at a 6.35% coupon to repay maturing debt. The issuance reduces the company's debt ratio from 171.8% to 152%; after settling 250 billion won in commercial paper due in September, the ratio is projected to fall to the 140% range—below the 150% credit downgrade trigger set by local rating agencies. The bonds include step-up provisions, allowing early redemption after three years; otherwise, interest costs will increase incrementally starting July 2029.
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