General Announcement::Notice of the occurrence of a Benchmark Event and transition to an Alternative Benchmark Rate

Issuer & Securities

Issuer/ Manager
WOORI CARD CO., LTD.
Securities
WOORICARDCO US$100MF251016 - XS2236381476 - WNRB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
28-Jun-2023 17:11:41
Status
New
Announcement Sub Title
Notice of the occurrence of a Benchmark Event and transition to an Alternative Benchmark Rate
Announcement Reference
SG230628OTHRYHR1
Submitted By (Co./ Ind. Name)
Yu jiho
Designation
Head of Treasury Department
Description (Please provide a detailed description of the event in the box below)
We hereby give notice to the SGX that, in connection with the upcoming discontinuation of LIBOR, Woori Card Co., Ltd. ( Woori Card ) will be transitioning the benchmark rate of US$100,000,000 floating rate notes issued by Woori Card that are listed on the SGX (the Notes ). Please find further details of the Notes in the table below.


ISIN : XS2236381476

Issue Date : October 16, 2020

Benchmark Transition Effective Date : July 16, 2023

Maturity Date : October 16, 2025


The original interest rate of the Notes is 3-month US$ LIBOR, plus 1.00% per annum. Upon the benchmark transition, the new interest rate will be Compounded Daily SOFR, plus 1.26161% per annum (i.e., 0.26161% per anumm, which is a spread adjustment for 3-month US$ LIBOR, plus 1.00% per annum, which is the existing margin). The new interest rate will be applied starting with the new interest period beginning on July 16, 2023. For more information on the benchmark transition and the related modifications to the interest rate determination, please see attached the Notice to Noteholders dated as of June 27, 2023.

Attachments

Woori Card Formosa 2020 Notice to Noteholders _Executed 06272023.pdf
Total size =8646K