Kookmin Bank's Proposed Subordinated Tranche Under Its GMTN Program And Basel III Tier-2 Notes Rated 'BBB+'

HONG KONG (S&P Global Ratings) Jan. 28, 2019--S&P Global Ratings today assigned its 'BBB+' program rating to the subordinated tranche proposed by Kookmin Bank (A+/Stable/A-1) under the bank's US$8 billion global medium-term note (GMTN) program. We also assigned our 'BBB+' long-term issue rating to Kookmin Bank's proposed U.S. dollar-denominated Basel III Tier-2 sustainability subordinated notes. The notes will be drawn down from the GMTN program. The program and issue ratings are subject to our review of the final issuance documentation. Kookmin Bank intends to use the issuance proceeds to provide loans compliant with its sustainable financing framework. The notes will be direct, unsecured, and subordinated to senior creditors' claims. They will be classified as Basel III Tier-2 regulatory capital. The

...HONG KONG (S&P Global Ratings) Jan. 28, 2019--S&P Global Ratings today assigned its '###+' program rating to the subordinated tranche proposed by Kookmin Bank (A+/Stable/A-1) under the bank's US$8 billion global medium-term note (GMTN) program. We also assigned our '###+' long-term issue rating to Kookmin Bank's proposed U.S. dollar-denominated Basel III Tier-2 sustainability subordinated notes. The notes will be drawn down from the GMTN program. The program and issue ratings are subject to our review of the final issuance documentation. Kookmin Bank intends to use the issuance proceeds to provide loans compliant with its sustainable financing framework. The notes will be direct, unsecured, and subordinated to senior creditors' claims. They will be classified as Basel III Tier-2 regulatory capital. The notes' terms and conditions have a write-down clause that allows the following on the occurrence of a nonviability event: (1) The full principal amount will be permanently written down to...

Ratings Action