Woori Financial Group Successfully Issues 200 Billion KRW of New Hybrid Bonds
[Asia Economy Reporter Kim Hyo-jin] Woori Financial Group announced on the 20th that it has successfully issued 200 billion KRW worth of won-denominated hybrid capital securities (contingent capital securities).
The bonds issued this time are perpetual bonds with a call option for early redemption after 5 years. In the demand forecast conducted on the 16th, effective demand of 462 billion KRW, more than three times the registered amount of 150 billion KRW in the securities registration statement, was gathered, leading to the decision to increase the issuance to 200 billion KRW.
The issuance interest rate was 2.93% based on the demand forecast amount and 3.00% based on the final issuance amount after the increase, both of which are the lowest ever for hybrid capital securities issued by domestic financial holding companies.
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A Woori Financial Group official said, “Riding on the market's continued strong interest, we successfully completed the issuance of 900 billion KRW worth of hybrid capital securities this year following 1 trillion KRW last year,” and added, “We will continue to strengthen our loss absorption capacity to sufficiently prepare for domestic and international uncertainties such as the prolonged COVID-19 pandemic.”
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