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Woori Financial Group raised 400 billion won ($334 million) by issuing subordinated corporate bonds, the group said Friday.
The firm issued 300 billion won worth of 10-year contingent convertible bonds and 100 billion won of eight-year bonds to strengthen the group's cash reserve.
The eight-year and 10-year bonds offer a 2.13 percent and 2.2 percent interest rate, respectively, the lowest among recent contingent convertible bonds issued by the nation's financial groups since the Basel III International Regulations were introduced in 2010.
"Considering 500 billion won worth of corporate bonds were issued in July, Woori Financial Group's capital adequacy ratio will be boosted by 40 basis points compared to its June figure," a Woori Financial Group official said.
"Woori will continuously secure enough of a capital buffer to withstand the effects of the growing global uncertainties."
