Woori executes first derivatives deal through London hub

What happened: Woori Bank completed its first corporate derivatives deal through its London Trading Center, arranging a 70 million pound loan and a matching interest rate swap for a London-based company. The deal was signed Sept. 29 with Woori's London branch. Key numbers: 70 million pounds ($93 million); signed Sept. 29. Why it matters: Woori said it is the first South Korean commercial bank to manage and hedge such a transaction locally with an in-house book, shifting from remote support in Seoul to direct management in London. It plans to broaden derivatives offerings and counterparties.

Woori Bank completed its first corporate derivatives deal through its London Trading Center, arranging a 70 million pound loan and a matching interest rate swap for a London-based company. The deal was signed Sept. 29 with Woori's London branch.

Woori said it is the first South Korean commercial bank to manage and hedge such a transaction locally with an in-house book, shifting from remote support in Seoul to direct management in London. It plans to broaden derivatives offerings and counterparties.