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POSCO raises $1b via overseas debt sale

Posco's corporate logo (Posco)
Posco's corporate logo (Posco)

POSCO, South Korea's top steelmaker, said Friday that it has raised $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. (Yonhap)

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