Industrial Bank of Korea buys back 4% subordinated notes

New York, March 24 - Industrial Bank of Korea said it repurchased and cancelled some of its 4% lower tier II subordinated notes due 2014.

Following the buyback, Industrial Bank of Korea has $287.549 million of the notes outstanding. It originally issued $300 million.

The transaction was carried out on March 13.

The bank is a Seoul-based commercial and retail bank.

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