Seoul: Woori Financial Group Inc., a major South Korean banking group, announced on Wednesday that it has successfully raised 400 billion won (US$280 million) through the issuance of hybrid securities. This strategic move aims to strengthen the group's capital base.
According to Yonhap News Agency, the hybrid bonds carry a coupon rate of 3.45 percent. Initially, Woori Financial Group planned to raise 270 billion won, but due to higher-than-expected subscriptions, the group increased the amount to 400 billion won.
Woori Financial Group's flagship entity, Woori Bank, plays a significant role in the banking sector. The decision to boost the amount raised through hybrid securities reflects the strong demand and investor confidence in the group's financial strategies.