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S.Korea POSCO may sell global bonds next wk-sources

Wed Mar 11, 2009 11:02pm EDT

Stocks

   

HONG KONG, March 12 (Reuters) - South Korea's POSCO (005490.KS) may sell global bonds next week after briefing investors, two sources familiar with the plan said on Thursday, in the first potential corporate bond sale out of Asia this year.

South Korea

POSCO will brief investors from Monday through Wednesday and will launch a bond transaction, depending on market conditions, said the source, declining to be identified because he was not authorised to talk about the sale.

Citigroup (C.N), Deutsche Bank (DBKGn.DE), Goldman Sachs (GS.N), HSBC (HSBA.L) (0005.HK) and Merrill Lynch will be the underwriters for the deal, the source said.

POSCO is rated A by Standard & Poor's, or the sixth-highest investment grade rating, and one notch above at A1 by Moody's Investors Service. (Reporting by Rafael Nam; Editing by Jonathan Hopfner)

South Korea


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