KB Financial Plans 270 Billion Won Issuance of Amortized Hybrid Securities
MT Newswires Live
Jul 23
KB Financial's (KRX:105560) board approved the issuance of up to 270 billion won in domestic unsecured amortized contingent capital securities on Thursday, to bolster its BIS capital adequacy ratio by expanding additional Tier 1 capital.
The proceeds will be used for debt repayment, and the final issuance amount and interest rates will be determined based on future demand forecasting results within the 400 billion won board-approved limit.
The perpetual securities feature a five-year call option, subject to regulator's approval, and under conditions that maintain sufficient capital levels, according to a bourse filing on Thursday.
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