Shinhan Bank Issues 400 Billion KRW ESG Subordinated Bonds
[Asia Economy Reporter Kwangho Lee] Shinhan Bank announced on the 7th that it has issued 400 billion KRW worth of won-denominated ESG (Environmental, Social, and Governance) subordinated bonds (green bonds, contingent capital securities).
This bond has a 10-year maturity, with a fixed coupon rate of 2.58%, which is 0.47% above the 10-year government bond average yield.
Shinhan Bank initially planned to issue 300 billion KRW as stated in the initial securities registration statement, but due to demand nearly twice the amount of the target, the final issuance amount was set at 400 billion KRW.
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A Shinhan Bank official said, "Following last year's successful issuance of 590 billion KRW in new capital securities, this subordinated bond issuance was also completed successfully. Through this issuance, the capital adequacy ratio is expected to increase by 24 basis points (1bp=0.01%), and we will continue to proactively strengthen capital to maintain a stable capital adequacy ratio."
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