State fund eases Korean bank capital fears with $2.9bn subordinated debt purchases

02 Apr 2009

Korean banks sold almost W4tr ($2.9bn) of subordinated debt to a government-backed fund on Monday and Tuesday, boosting their capital ratios and reducing the risk of more skipped call options on offshore bank debt.

The W20tr Bank Recapitalisation Fund has completed its first investments, buying newly issued subordinated ...

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