iM Financial Group Decides to Issue KRW 100 Billion in Hybrid Securities... Accelerates Enhancement of BIS Ratio

iM Financial Group (Chairman Hwang Byung-woo) is setting out to strengthen its financial soundness through capital expansion. Following its subsidiary iM Securities' decision to issue KRW 150 billion in hybrid securities, the holding company is also stepping up to raise large-scale funds.

According to the Financial Supervisory Service's electronic disclosure system on the 27th, iM Financial Group announced that it resolved at a board of directors meeting to issue write-down contingent capital securities (hybrid securities) worth up to KRW 100 billion.

The securities to be issued are the 13th bearer, unguaranteed, unsecured write-down contingent capital securities, taking the form of perpetual bonds with no set maturity. A call option condition is attached, allowing the company to repay early 5 or 10 years after the issuance date.

The raised funds will be included as additional Tier 1 capital and used to boost the BIS capital adequacy ratio, and are planned to be utilized for the holding company's operational funds and debt repayment.

This issuance will be carried out through a public offering following bookbuilding targeting institutional investors, and detailed conditions such as the coupon rate, subscription date, and payment date will be finalized later based on the results of the bookbuilding and consultations with financial authorities.

An official from iM Financial Group stated through the disclosure, "The main purpose is to improve the BIS capital adequacy ratio by expanding additional Tier 1 capital."