BNK Capital Raises 55 Billion KRW Overseas... Successful USD Funding from State-Owned Banks

Moody's Credit Rating 'Stable' Followed by First Foreign Currency Funding

Borrowing in the Form of a Syndicated Loan Through Foreign Bank Branches

BNK Capital (CEO Kim Sung-joo) has successfully raised over 55 billion KRW in overseas funding.

BNK Capital announced on the 18th that it secured foreign currency funding worth USD 41.5 million from overseas state-owned banks.

This foreign currency funding is the first case of overseas fundraising since obtaining a corporate credit rating of Baa1 (stable) from Moody's, one of the world's top three credit rating agencies, last November.

Baa1 is an investment-grade rating recognized for creditworthiness both domestically and internationally.

The funding interest rate was 5 basis points lower than BNK Capital's corporate bond average rate, and the loan was borrowed in the form of a syndicated loan through local branches of foreign banks. A syndicated loan refers to a loan provided jointly by a group of banks under common terms.

A BNK Capital official said, "Being recognized internationally for our credibility is expected to act as a positive signal in the domestic bond market, securing competitiveness for additional fundraising," adding, "It is a positive factor for advancing overseas business."

BNK Capital currently has a total of six local subsidiaries in five countries across Southeast Asia and Central Asia, and is actively pursuing global business while seeking further overseas market expansion.

BNK Capital employees are celebrating the overseas fund raising.