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Woori Financial floats $280 mil. in hybrids

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By Yonhap
  • Published KST
Woori Financial Group's headquarter in Seoul / Courtesy of Woori Financial Group

Woori Financial Group's headquarter in Seoul / Courtesy of Woori Financial Group

Woori Financial Group, a major Korean banking group, said Wednesday it has raised 400 billion won ($280 million) by selling hybrid securities to bolster its capital base.

The hybrid bonds have a coupon rate of 3.45 percent, according to Woori Financial.

Woori Financial, whose flagship is major lender Woori Bank, said it has jacked up the amount from an initially planned 270 billion won due to more-than-expected subscriptions.