Woori Bank woos investors with Basel III T2

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By Isabella Zhong
24 Apr 2014

Woori Bank printed the first US dollar Basel III tier two bond from a South Korean issuer on Wednesday night. A big order book helped the borrower to tighten initial guidance by 30bp, the largest margin for an Asian issuer issuing a Basel III compliant security.

Bookrunners Barclays, BNP Paribas, Bank of America Merrill Lynch, Crédit Agricole, HSBC, JP Morgan and Nomura announced initial price guidance of 237.5bp over US Treasuries for the 10 year bullet on Wednesday morning.

As the order book swelled to $4.5bn by the end of the Asian trading day, bankers ...

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