Woori Financial Group Successfully Issues New Capital Securities Worth 200 Billion KRW
[Asia Economy Reporter Jin-ho Kim] Woori Financial Group announced on the 6th that it has successfully issued KRW 200 billion worth of won-denominated hybrid capital securities (contingent capital securities).
Despite the recent surge in domestic and international interest rates and increased uncertainty in the financial markets, the demand forecast conducted at the end of last month attracted valid demand exceeding the announced amount (KRW 150 billion), leading to a decision to increase the issuance up to the maximum KRW 200 billion approved by the board of directors.
Accordingly, Woori Financial Group's issuance of hybrid capital securities has increased to a total of KRW 400 billion this year. A Woori Financial Group official explained, "With high market expectations for this year's record-breaking performance, we also expect the corporate value to be significantly enhanced through the ongoing achievement of the complete privatization of Woori Financial Group."
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Meanwhile, the bonds issued this time are perpetual bonds with a call option for early redemption after 5 years, with an issuance interest rate of 3.60%, and the issuance date is set for the 14th of this month.
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