Posco Board Approves KRW266.1 Billion Loan to Unit to Acquire US Shale Gas Assets

MT Newswires Live

09/15

Posco International (KRX:047050) said its board approved a 266.1 billion won cash loan to its subsidiary, POSCO International E&P USA, to acquire U.S. shale gas assets, according to a Tuesday filing with the Korea Exchange.

The trading and energy company said the loan runs through March 15, 2027, carries an annual interest rate of 4.6% and represents 3.41% of its equity capital.

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