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Posco Issues ESG Green Bonds Worth USD 500 million

Steel News - Published on Wed, 10 Jul 2019

Image Source: Nikkei Asian Review
Korea Herald reported that Posco said Tuesday it has become the world’s first steelmaker to issue USD 500 million worth of environmental, social and governance related bonds that finance eco-friendly projects and social bonds that help alleviate social issues such as job creation. Posco Chairman Choi Jeong-woo said “The bonds will be used to expand Posco’s investments in batteries for electric vehicles, and will also be used to support the growth of the steel industry.”

To issue the bonds, Posco established a sustainable financing framework in April to match the standards of its green bonds and social bonds to that of the International Capital Market Association.

The five-year bonds have an interest rate of 2.874 percent, and will be listed on Singapore Exchange.

ESG bonds are issued to finance sustainable outcomes within three categories -- environmental friendliness, social responsibility and improvement in governance.

Source :

Posted By : Ratan Singh on Wed, 10 Jul 2019
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