KB Financial Group Successfully Issues Korea's First 600 Billion KRW Tier 1 Capital Securities
Secured demand of 1.1 trillion won, three times the planned 350 billion won募集 amount
[Asia Economy Reporter Park Sun-mi] KB Financial Group announced on the 19th that it has issued 600 billion KRW of hybrid capital securities for proactive capital expansion.
KB Financial secured demand of 1.104 trillion KRW, approximately 3.2 times the planned amount of 350 billion KRW, and ultimately increased the issuance of hybrid capital securities to 600 billion KRW. The issuance of 600 billion KRW worth of hybrid capital securities is the first of its kind in Korea.
This issuance was conducted with three types of call options: 5-year, 7-year, and 10-year. The 5-year call option of 420 billion KRW was issued at an interest rate of 2.67%, the 7-year call option of 60 billion KRW at 2.87%, and the 10-year call option of 120 billion KRW at 3.28%.
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A KB Financial Group official stated, “This hybrid capital securities issuance holds various significances, including the largest issuance at the lowest interest rate ever and pioneering the new 7-year call option market.” He added, “We will continue to do our best to enhance shareholder value based on market trust through stable capital management.”
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