S&P rates Woori Bank bonds A-

Standard & Poor's said it assigned an A- rating to Woori Bank's ¥16.3 billion senior unsecured bonds with a coupon rate of 1.29% due July 23, 2014 and its ¥3.7 billion senior unsecured bonds with a coupon rate of 1.40% due July 23, 2015.

The proceeds will be used to repay foreign-currency-denominated debt and for the bank's general operating activities. The bonds will constitute direct, unconditional, unsecured and unsubordinated obligations of the bank.

They will rank pari passu with all other unsecured and unsubordinated obligations of the bank, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.