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Woori Bank raises 300B won in hybrid securities issue
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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.