South Korean steel giant POSCO (NYSE:PKX) announced it'll be selling close to $700 million in global bonds in October, according to company President Choi Jong Taehired.
POSCO has a rating of A at Standard & Poor’s and A- at Fitch Ratings, and A2 at Moody’s Investors Service (NYSE:MCO).
Similar to the region is resides in and ongoing geopolitical concerns, POSCO has had a rocky ride over the last year, moving up and down in wide swings, although it seems to have recovered nicely from May lows, and has been consistently moving upward in share price.
On October 1 of 2009, they stood at $100 a share even.
Friday they closed at $116.63, gaining $2.65, or 2.32 percent. They have a market cap of just under $36 billion.
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