Woori Financial Group Successfully Issues 300 Billion KRW of New Hybrid Capital Securities

Issued at the lowest interest rate of 3.23% among new hybrid capital securities issued since the launch of the holding company
Secured loss absorption capacity to prepare for prolonged COVID-19 with a 13bp increase in equity ratio

[Asia Economy Reporter Kangwook Cho] Woori Financial Group announced on the 5th that it has successfully issued 300 billion KRW worth of hybrid capital securities (contingent capital securities).

This hybrid capital security is the second hybrid capital security issued by Woori Financial Group this year following February. In the demand forecast conducted on the 3rd, effective demand of 415 billion KRW was gathered, exceeding the registered amount of 250 billion KRW in the securities registration statement, leading to a decision to increase the issuance amount.

The issuance interest rate is 3.23%, the lowest ever among hybrid capital securities issued since the launch of Woori Financial Group. The issuance date is the 12th, and it is a perpetual bond with a call option allowing early redemption after 5 years.

Additionally, through this issuance, Woori Financial Group's capital adequacy ratio (BIS) is expected to increase by approximately 13 basis points.

A Woori Financial Group official stated, "Despite difficult circumstances such as COVID-19 and the US-China conflict, we succeeded in issuing hybrid capital securities at the lowest interest rate since the establishment of the holding company." He added, "This reflects the market's expectations that the effect of the holding company transition through governance stabilization will be fully realized this year. We plan to secure maximum loss absorption capacity in preparation for the prolonged COVID-19 pandemic."

This content was produced with the assistance of AI translation services.