Woori Bank issues $800 mln of global bonds

SEOUL, July 28 (Yonhap) -- Woori Bank, South Korea's second-largest lender, said
Tuesday it has raised US$800 million by selling dollar-denominated bonds abroad
to repay maturing debts.

The five-and-a-half year debts carry an interest rate of 3.84 percent more than
the London Interbank Offered Rate and were sold in U.S. and European markets,
Woori Bank said.
The bonds were assigned an A2 rating by global credit evaluator Moody's Investors
Service while receiving A- grades from both Standard & Poor's Ratings Service and
Fitch Ratings, the lender said in a statement.
The notes, which are not backed by the government's debt guarantee program, will
be listed on the Singapore Exchange, the lender said.
The proceeds from the notes will used to refinance maturing debts and provide
financing for local traders, it said.
pbr@yna.co.kr
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