Woori Bank Issues New Hybrid Capital Securities Worth 300 Billion KRW

Demand Reaches 1.63 Times the Initial Offering Amount

Woori Bank announced on the 16th that it has successfully issued KRW 300 billion worth of won-denominated hybrid capital securities (perpetual subordinated contingent capital securities).

The newly issued hybrid capital securities are perpetual bonds with an early redemption option (call option). Due to strong interest from retail-based investors and institutional investors, demand reached approximately 1.63 times (KRW 442 billion) the initial target amount of KRW 270 billion, leading to an increase in issuance to KRW 300 billion. The coupon rate is 5.38%.

This bond issuance is the last hybrid capital securities issuance by commercial banks this year. Despite challenging conditions such as financial market instability caused by a sharp rise in U.S. Treasury yields the day before the demand forecast and prolonged high interest rates, the bank succeeded in attracting strong demand through active investor relations (IR) activities.

Woori Bank stated, "This issuance is expected to increase the BIS ratio by approximately 0.18 percentage points," adding, "Based on this, we plan to manage the BIS ratio stably."

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