Shinhan Financial Issues $500 Million Global Senior Unsecured Foreign Currency Bonds
Successful Preemptive Issuance Ahead of U.S. Tariff Suspension Expiry
Five-Year Maturity Bond Set at 4.597% Annual Rate
Shinhan Financial Group announced on July 8 that it has successfully completed a global public offering of senior unsecured foreign currency bonds worth $500 million (approximately 683.9 billion KRW) targeting overseas investors.
This senior foreign currency bond has a five-year maturity with a fixed interest rate and was issued for the purpose of refinancing previously issued foreign currency bonds. The coupon rate was set at 4.597% per annum, which is the U.S. Treasury yield plus a spread of 0.63 percentage points.
Prior to the bond issuance, Shinhan Financial visited major institutional investors in Asia and Europe to hold investor presentations. As a result, approximately 130 investors expressed investment intentions totaling around $3 billion, which is up to six times the amount offered.
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For this issuance, Citigroup Global Markets Securities, Credit Agricole, BNP Paribas Securities, HSBC Securities, Mizuho Securities, and Standard Chartered acted as joint bookrunners, while Shinhan Investment Corp. participated as a co-manager.
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