Woori Card, the credit-card unit of Woori Bank, said on Nov. 9 it has raised US$300 million by selling asset-backed securities overseas.
It was the second overseas debt issue by Woori Card since January.
Meanwhile, Moody’s Investors Service has lifted its main debt ratings for Woori Card by three notches.
Moody’s assigned Baa1 foreign currency and local currency issuer ratings to Woori Card, citing its solid profitability despite the regulatory pressure on fees.
Woori Card is a wholly owned subsidiary of Woori Bank, Korea’s No. 3 retail bank.
By Alex Lee and newswires (email@example.com