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Woori Card raises US$50M in Shogun bond issue

Woori Card Co. Ltd. sold two-year Shogun bonds to raise US$50 million, Yonhap News Agency reported July 10.

Shogun bonds refer to debt issued in Japan by a non-Japanese company and denominated in a currency other than the yen.

Woori Card said it will use the bonds' proceeds to repay its maturing debt and finance its businesses.

The company did not disclose additional details about the bond issue.