IBK Industrial Bank, Issuance of 600 Billion KRW Subordinated Bonds

[Asia Economy Reporter Jin-ho Kim] IBK Industrial Bank announced on the 24th that it has issued 600 billion KRW worth of Korean won-denominated contingent capital securities (subordinated bonds) in the form of social bonds. The bond maturity is 10 years, and the issuance interest rate is 2.47% (10-year government bond + 40bp).

An IBK Industrial Bank official explained, "The funds raised through the bond issuance will be used to support small and medium-sized enterprises and small business owners who are experiencing management difficulties due to the prolonged COVID-19 pandemic."