HG bonds: Woori Bank places 2026 sustainability bonds; terms

South Korean financial concern Woori Bank today completed a $550 million offering of 0.75% five-year senior notes due Feb. 1, 2026, at T+45, or 0.855%.

The issue was printed through initial whispers in the T+75 area. Bookrunners last week organized investor calls in preparation for the new bond placement.

Proceeds will be used to back eligible projects under the company's green, social and sustainability bond framework.

The South Koran bank is a sporadic issuer in the U.S. market. Its last deal was completed in July 2018, when it placed a $300 million offering of 5.125% 10-year subordinated, Basel III compliant notes at T+200, or 5.173%. In January 2016, Woori Bank printed $500 million of 2.625% five-year senior notes due July 2021 at T+112.5.

Seoul-based Woori Bank is a subsidiary of Woori Financial Group Inc. Terms: