Deals & Cases

IB & Financial Investment 2023-07-18
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DR & AJU Advises Woori Bank on the Issuance of Contingent Convertible Bonds and Hybrid Bonds

Woori Bank Co., Ltd. issued write-down contingent convertible bonds (subordinated debt) on three occasions to raise capital, issuing subordinated debt worth KRW 400 billion on July 12, 2022, worth KRW 350 billion on September 21, 2022, and another worth KRW 400 billion in May 2023. 

Regarding the issuance of these bonds, DR & AJU prepared the share transfer contracts and advance notification documents for submission to financial authorities, reviewed the client’s attached documents prepared by the client, and prepared written legal opinions justifying the need to issue write-down contingent convertible bonds, enabling Woori Bank to successfully issue write-down contingent convertible bonds.