Woori Bank provided an important new benchmark for the Asian region on Wednesday when it completed its debut Additional Tier 1 AT1 subordinated bank capital deal.
The transaction not only marks the first AT1 deal of the year from Asia, but is also the first of its kind from Korea.
Korea's second largest bank is likely to be extremely happy with the result after securing a 5% coupon, the lowest on record for an AT1 Basel III-compliant deal. Only Svenska Handelsbanken and Nordea Bank have come close with 5.25% coupons for their transactions, which were both priced earlier this year and are...
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