Woori Financial Group's non-performing loan (NPL) investment specialist Woori Financial F&I said on Monday it successfully raised 185 billion won through a public offering of corporate bonds.

The bond sale was held on May 8. It secured a large amount of funding in stable fashion despite heightened market volatility, drawing an assessment that it confirmed market confidence.

Woori Financial F&I had initially planned an issuance of 100 billion won. It increased the size to 185 billion won after more than 1 trillion won flowed in during demand forecasting.

The bonds were structured with maturities of 1.5, 2 and 3 years. Pricing was set below the average market-assessed yield for Woori Financial F&I bonds, at 11 basis points lower for the 1.5-year tranche, 21 basis points lower for the 2-year tranche and 23 basis points lower for the 3-year tranche.

The company explained that a stable business foundation that maintains balance between recovery of investment assets and new investments, along with its credit standing as a financial group affiliate, contributed to the strong demand.

Kyobo Securities, KB Securities and Korea Investment & Securities served as joint bookrunners. Woori Investment & Securities also joined the underwriting group along with Shinyoung Securities and Eugene Investment & Securities, expanding capital market synergies within the group.

A Woori Financial F&I official said, "We were able to confirm the market's high trust once again." The official added, "Based on the funds raised, we will pursue both expanded NPL investment and improved financial stability."