Simpson Thacher, acting as sole international counsel, represented BNP Paribas SA, Taipei Branch, Cathay United Bank Co., Ltd., Capital Securities Corporation, Taishin International Bank Co., Ltd. and SinoPac Securities Corporation, as joint managers, in connection with the offering of US$100 million Floating Rate Notes due October 16, 2025 by Woori Card Co., Ltd. (“Woori Card”). The Notes have been listed on the Taipei Exchange and the Singapore Exchange Securities Trading Limited. This offering marks the first Formosa bond issuance by a credit finance company in Korea. The offering was conducted in reliance upon Regulation S under the U.S. Securities Act of 1933, as amended.
Woori Card is a credit finance company and offers a wide range of credit card services to retail and corporate customers primarily in Korea. Woori Card is a wholly owned subsidiary of Woori Financial Group, one of the leading financial holding companies in Korea with shares listed on the Korea Exchange and the New York Stock Exchange.
The Simpson Thacher team for the transaction included Jin Hyuk Park, Joongwon Park and Chanik Park (Corporate – Hong Kong); Andrew B. Purcell and Scott Grundei (Tax).