Woori Bank unit Woori Card Co. Ltd. raised US$300 million from the sale of asset-backed securities to HSBC Holdings Plc, Edaily reported Jan. 24.

The asset-backed floating-rate notes are due January 2021, Fitch Ratings said Jan. 23. The issuance consists of notes backed by credit card receivables denominated in won originated by Woori Card.

The proceeds will be used to pay off debts and for general corporate use, EDaily reported.