Posco International US Unit to Raise 532.9 Billion Won for Shale Gas Assets

According to The Korea Herald, Posco International said its wholly owned U.S. subsidiary will raise 532.9 billion won ($396 million) through a rights offering to acquire shale gas assets in the United States. The funds will be raised by Posco International E&P USA, while the company did not disclose the assets or its partner in the deal. Posco International also said it will extend 266.1 billion won in loans to the U.S. subsidiary by March 15 next year.