Last week, Shinhan Bank priced a USD 500m issuance, with a ten year maturity, constituting Korea’s first Climate-Bonds-Initiative-Certified green bond.
BNP Paribas, Citigroup, Crédit Agricole CIB, Credit Suisse, HSBC, JP Morgan, and Shinhan Investment Corporation, all acted as joint lead managers across the issuance.
Proceeds from the bonds will be used to refinance existing projects Seoul Metro Line 9 and the Great Train eXpress GTX Line A, both of which involve green finance commitments, with specific criteria on CO2 emission thresholds that contribute towards the market’s net zero target by 2050.
The projects include passenger rail rolling stock, rail transport...
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