Woori Bank in $500 Million Tier I Offering; First International Issuance of Basel III-compliant Additional Tier I Capital by a Korean Bank

June 10, 2015

Cleary Gottlieb served as transaction counsel in an offering of $500 million 5.00% Tier I Subordinated Notes by Woori Bank under its $7 billion Global Medium Term Note Programme. The offering was the first international offering of Basel III-compliant additional Tier I capital securities by a Korean bank. Barclays served as structuring advisor, Barclays, BofA Merrill Lynch, Citigroup, COMMERZBANK and Nomura served as active joint bookrunners and joint lead managers and BNP PARIBAS, Crédit Agricole CIB, Deutsche Bank and J.P. Morgan served as passive joint bookrunners and joint lead managers for the offering, which closed on June 10.

Woori Bank, whose shares are listed on the NYSE, is one of the largest commercial banks in Korea based on total loans and assets and provides a wide range of products and services to a broad spectrum of customers.