Woori pushes AT1 across line as investor demand muted

By Addison Gong
22 Sep 2016

South Korea’s Woori Bank printed a $500m Basel III additional tier one on Tuesday off the back of a modest $850m order book. The notes struggled a little in secondary the following day before rebounding on Thursday, putting the focus on the transaction’s pricing and timing, writes Addison Gong.

Before launching its deal on Tuesday, A2/A/A- rated Woori met potential buyers in a global roadshow in mid-July, when the leads flew the Korean borrower to Boston, Hong Kong, London, New York and Singapore.

A syndicate banker on the trade said they wanted to go ahead with ...

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