Woori Bank Successfully Issues $550 Million Foreign Currency ESG Bonds... Lowest Interest Rate Ever

Issued at a record low interest rate of 0.75% among domestic commercial banks' US dollar benchmark bonds
Fulfilling social responsibility management through continuous issuance of ESG bonds

[Asia Economy Reporter Wondara] Woori Bank announced on the 27th that it successfully issued foreign currency 'Environmental, Social, and Governance (ESG)' senior bonds worth USD 550 million (approximately KRW 600 billion) at the lowest interest rate ever among domestic commercial banks' dollar benchmark bonds.

The bonds issued this time have a coupon rate of 0.75%, which is 45 basis points above the 5-year US Treasury bond, and a maturity of 5 years. There are a total of 110 institutional investors, with regional distribution of 60% Asia, 31% Europe and the Middle East, and 9% the United States.

Additionally, these bonds were issued as ESG bonds aimed at socially responsible investment in environment, society, and governance. The raised funds will be used for projects supporting companies affected by COVID-19, and for sustainable growth initiatives such as renewable energy development and job creation in line with the Korean New Deal policy.

A Woori Bank official stated, “Amid the global resurgence of COVID-19, we attracted investors by actively explaining Woori Bank’s excellent asset soundness and solid financial performance,” and added, “We will continue to issue ESG bonds for sustainable growth going forward.”

Meanwhile, Woori Bank issued KRW sustainable bonds of ▲KRW 200 billion in 2019 and ▲KRW 750 billion in 2020, and foreign currency sustainable bonds of ▲USD 450 million in 2019 (Formosa bonds) and ▲AUD 400 million in 2020 (Kangaroo COVID-19 Recovery Support Sustainable Bonds) twice.

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