Shinhan Bank Decides to Issue New Hybrid Capital Securities Worth 300 Billion KRW
[Asia Economy Reporter Seongpil Cho] Shinhan Financial Group announced on the 28th that its subsidiary, Shinhan Bank, has decided to issue 300 billion KRW worth of amortizing contingent convertible bonds (hybrid capital securities).
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The company stated, "The purpose is to enhance the BIS (Bank for International Settlements) capital adequacy ratio by expanding additional Tier 1 capital," and explained, "The issuance limit is based on the board resolution and may vary depending on market conditions during the actual issuance process."
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