Simpson Thacher Represents Citi, Deutsche Bank, Goldman Sachs International, HSBC and Merrill Lynch International in US$700 Million Debt Offering by POSCO
03.27.09
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The Firm recently represented Citi, Deutsche Bank, Goldman Sachs International, HSBC and Merrill Lynch International in a US$700,000,000 offering of 8.75% Notes due 2014 issued by POSCO. POSCO is one of the world's leading steel manufacturers based in Korea. POSCO's common shares are listed on the Korea Exchange and its American depositary shares are listed on the New York Stock Exchange.
The transaction was reportedly the first debt offering by an Asian corporate issuer since the onset of the global liquidity crisis in the second half of 2008. The offering was conducted in reliance upon Rule 144A and Regulation S under the Securities Act of 1933.
The Simpson Thacher team for the transaction included Jin Hyuk Park, Johneth C. Park, Yeon Jin Seong and Sarah Park (Corporate), Jonathan Cantor and Jonathan Talansky (Tax) and Mark Lab (Blue Sky). Paralegals Lydia Yang and Jane Lee also provided valuable assistance.