woori-adds-new-deal-to-its-frn-curve

Woori adds new deal to its FRN curve

With the global markets gathering momentum after a summer of lull, Woori Bank prices its newest FRN at the tight end of revised guidance.
Woori Bank returned to the senior bond markets for the first time since December of last year on Friday September 8 with a $500 million 144a Reg-S FRN via ABN AMRO, JPMorgan, Merrill Lynch and Woori Securities.

The A3A-A- senior unsecured five-year deal priced at the tight end of revised price guidance coming at par on a coupon of 36bp over 3 month Libor. Having initially released guidance to the market yesterday with a target yield of 37bp to 39bp over 3 month Libor, the leads cut guidance to 36bp to 37bp over on Thursday after the deal picked up considerable momentum during the roadshows.

Fees were 22 cents.

The deal...
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