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KEB Hana Bank to issue up to 500B won of contingent capital securities

KEB Hana Bank proposed to raise up to 500 billion South Korean won from an issuance of subordinated bonds.

The board of Hana Financial Group Inc.'s unit has signed off on the issuance plan, the group said Oct. 23. Details of the contingent capital securities issuance will be determined later, including the issuance date, the offering amount and the coupon.

As of Oct. 23, US$1 was equivalent to 1.171.80 South Korean won.