Kookmin Bank Issues Bond-Type Hybrid Tier 1 Securities
2003-07-07On July 4, 2003, the board of directors of Kookmin Bank has approved Kookmin Bank’s issuance of bond-type Hybrid Tier 1 Securities in European and Asian markets for the purpose of diversifying its funding sources and improving its BIS capital adequacy ratio.
This issue amount will be part of the total issue limit of KRW1.3 trillion of the bond-type Hybrid Tier 1 Securities approved and disclosed on April 22, 2003.
- Security type: Bond-type Hybrid Tier1 Securities
- Amount: Around US$500 million
- Expected issue timing: July, 2003
- Maturity: 30 years
(possible renewal with the same terms & conditions, if not redeemed)
- Interest rate: To be decided upon market interest rate on the date of issuance
- Interest payment type: Non-cumulative
- Call Option: Exercisable after 10 years from issuance date