InfoAnda - POSCO sells Samurai bonds to fund Brazil investment

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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: POSCO sells Samurai bonds to fund Brazil investment AFP - 2 hours 5 minutes ago SEOUL (AFP) - - South Korean steel firm POSCO said it has raised 50 billion yen (553 million dollars) by selling yen-denominated bonds to fund its investment in a Brazilian ore miner and raw material imports. POSCO, the world's fourth-largest steelmaker, said Japan's Sumitomo Mitsui Financial Group was the sole buyer of the Samurai bonds with a three-year maturity. Proceeds will be used to buy a stake in Brazilian miner Namisa and to settle import bills, the company said. In October a consortium including steelmakers from Japan and South Korea agreed to take a 3.1-billion-dollar 40 percent stake in Namisa to secure a stable supply of iron ore. POSCO will spend about 500 million dollars to purchase a 6.48 percent stake as part of the consortium's deal. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Dollar slips against yen in Christmas tradeAFP - 23 minutes ago Vietnam inflation reaches 22.97 percent in 2008AFP - 26 minutes ago Kamezaki:BOJ should eye longer-term rates if neededReuters - 34 minutes ago Turkey - Factors to Watch on Dec 25Reuters - 34 minutes ago Takeda to cancel 3.1 pct of own shares outstandingReuters - 39 minutes ago Enlarge Photo POSCO sells Samurai bonds to fund Brazil investment Most Popular – Business Viewed US sees no holiday cheer; Russia, China warn of grim 2009 French investor takes life after massive losses in Madoff scandal Housing market feels more pain, bottom not yet in sight Quake zone hero pig named China's animal of the year Actress Jennifer Aniston appears naked in GQ magazine View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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