Woori Bank Issues 400 Billion KRW Subordinated Bonds
Woori Bank announced on the 27th that it successfully issued 400 billion KRW worth of subordinated won-denominated bonds (contingent convertible bonds) on the 26th.
In the preliminary demand forecast, institutional investors showed strong interest, resulting in effective demand of 740 billion KRW. This is three times the initially registered amount of 270 billion KRW. Accordingly, Woori Bank decided to increase the issuance amount to 400 billion KRW.
The bonds issued by Woori Bank this time are ESG bonds with a maturity of 10 years and an interest rate of 3.89% (10-year government bond closing price + 63 basis points). These are the first subordinated bonds issued by a commercial bank this year. The issuance is expected to increase Woori Bank's BIS ratio by 0.23 percentage points.
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A Woori Bank official stated, “Amid high market expectations for a turnaround in this year’s performance, we successfully issued the bonds based on institutional investors’ trust in Woori Bank. We will continue to strengthen our foundation for sustainable growth by enhancing capital adequacy and practicing ESG management that fulfills social responsibility.”
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