Woori Bank issues $550 mn in foreign hybrid bonds

Woori Bank issued $550 million in foreign currency hybrid bonds to bolster its capital, the bank said on Thursday. This is the first foreign currency hybrid bond issue by a Korean financial institution in about three years.

Woori Bank officials visited global capital markets, including Hong Kong, to give presentations and demonstrate the bank’s soundness and stability to potential investors, prior to the issuance. Overseas investors appreciated Woori Bank’s stable management of non-performing loans and low exposure to project financing.