Industrial Bank of Korea to buy back its $287.55 million remaining 4% subordinated notes

By Jennifer Chiou

New York, April 15 - Industrial Bank of Korea announced plans to redeem and delist its remaining $287.55 million of the original $300 million of 4% subordinated notes due 2014.

The redemption date is May 19, which is the first call date for the notes.

The Seoul-based commercial and retail bank said that it will pay par plus accrued interest.

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