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Woori Bank raises 300B won in hybrid securities issue

South Korea's Woori Bank raised 300 billion won from an issuance of hybrid securities on March 18.

The Woori Financial Group Inc. unit issued write-down contingent capital securities as 10-year fixed-rate subordinated bonds with a coupon of 2.68%. The issuance is expected to raise the bank's capital adequacy ratio by 19 basis points.

The coupon represents a 70-basis-point premium over the 10-year government bond yield.

As of March 18, US$1 was equivalent to 1,132.37 South Korean won.