Woori Bank raises $610mn Samurai bonds

The lender issued three tranches of yen denominated bonds maturing in one year, 18 months and two years.

Woori Bank, South Korea's third-largest lender, said Tuesday it has raised 50 billion yen (US$610 million) by selling fixed-rate bonds in Japan.

The local lender issued three tranches of so-called Samurai bonds maturing in one year, 18 months and two years, respectively. Samurai bonds are yen-denominated debts sold in Japan by non-Japanese issuers.

The one-year bonds carry an interest rate 1.15 percentage points above the six-month yen Libor, or the yen-based London Inter-bank Offered Rate. The 18-month bonds and two-year bonds are priced to yield 1.25 percentage points and 1.35 percentage points more than the yen Libor, respectively, according to the bank, according to a report in Trading Markets.