S.Korea's Woori Bank delays dlr bond sale-sources

Wed Jul 9, 2008 11:34pm EDT
 
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HONG KONG, July 10 (Reuters) - South Korea's Woori Bank has put on hold a planned dollar bond sale, which had been previously been estimated at $500 million, due to tough market conditions, two sources with direct knowledge of the deal said on Thursday.

Woori Bank, the unit of Woori Finance Holdings (053000.KS) had been looking to sell $500 million in global bonds in July and was planning to meet with global investors early this month, an official at the lender had told Reuters last month.

But those plans are now on hold amid worsening market conditions, with no specific timeframe of when it will come back, the two sources told Reuters, declining to be identified because they were not authorised to talk to the media about the transaction. (Reporting by Rafael Nam; Editing by Keiron Henderson)

 

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