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S.Korea Woori picks 6 banks for $500 mln bond sale

Thu Jun 19, 2008 10:52pm EDT

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SEOUL, June 20 (Reuters) - South Korea's Woori Bank, a unit of Woori Finance Holdings (053000.KS), has picked six foreign banks to manage its planned $500 million global bond sale, a senior official of the bank told Reuters on Friday.

The country's No. 3 bank is aiming to sell the dollar bond with a five-year maturity around next month.

"We will start global IR (investor relations) meetings in Europe, the United States and Asia around early July," the official said by telephone, asking not to be named.

"Timing of the issuance will be dependent on market conditions, although we are aiming for sometime in July."

Merrill Lynch MER.N, Morgan Stanley (MS.N), Lehman Brothers LEH.N, HSBC (HSBA.L) (0005.HK), Barclays (BARC.L) and Deutsche (DBKGn.DE) will handle the sale.

(Reporting by Kim Yeon-hee; Editing by Jonathan Hopfner)



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