Woori Financial Group Issues First Senior Bonds of 200 Billion KRW Since Holding Company Launch

[Asia Economy Reporter Kim Hyo-jin] Woori Financial Group announced on the 2nd that it has successfully issued 20 billion KRW worth of senior unsecured corporate bonds.

This bond is the first senior unsecured bond issued by Woori Financial since the establishment of the holding company last year. Initially, 15 billion KRW was planned to be raised, but due to strong demand in the book-building process held the day before, with effective demand reaching 91 billion KRW, six times the original amount, the issuance was increased to 20 billion KRW, the amount approved by the board of directors.

The maturity is 3 years, and the coupon rate will be determined based on the AAA-rated corporate bond (3 years) rate announced by the Korea Financial Investment Association. The issuance date is scheduled for the 10th of this month.

A Woori Financial Group official said, "Despite the recent sharp rise in interest rates, we succeeded in issuing our first senior unsecured corporate bonds at a low rate," adding, "This result was achieved based on strong market interest and sound asset quality during a period when market uncertainty is increasing again due to the resurgence of COVID-19, which has dampened investor sentiment."

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