이 기사는 2021년 12월 09일 08:05 thebell 에 표출된 기사입니다.

South Korea’s Woori Bank has started a process to issue a dollar-denominated environment, social and governance (ESG) bond early next year.

The lender has recently granted mandates to major foreign securities firms with an aim to sell a $500 million dollar-denominated global (RegS/144a) bond in January 2022. Woori Bank plans to attract investors in Asia, Europe, and the U.S.

The bank has rushed to issue ESG bonds at home and aboard in recent years, starting with its first won-denominated sustainable bond sale in February 2019.

It is the first time in about a year that the bank sells a bond after a $550 million global bond issuance in February 2021, which attracted $2.1 billion in orders.

Woori Bank had focused on raising funds by selling dollar-denominated bonds, including hybrid bond and subordinated bond. Earlier this year, the lender resumed its dollar-denominated senior bond issuance for the first time in five years and the trend is expected to continue into next year.

Market volatility has heightened after the U.S. Federal Reserve's decision to start tapering or gradual winding down in the massive bond purchase program.

With many expecting the first rate hike from the Fed to occur next year, issuers of Korean paper, which refers to foreign currency-denominated securities sold abroad by Korean entities, are planning to sell their bonds at the beginning of next year to capitalize on greater market liquidity.

Woori Bank’s positive credit ratings are expected to help attract investors. Global credit rating agency S&P raised Woori Bank’s long-term credit rating by one notch from A0 to A+ in June and Fitch Ratings upgraded its credit rating from A- to A0. Moody’s has maintained the A1 credit rating for the bank since 2018. (Reporting by Hye-rim Pi)