Shinhan prices first Kangaroo bond

The Korean bank prices at the wide end of guidance, but doubles the size of the fixed and floating deal to A$400 million.

In a rare event for an Asian issuer, KoreaÆs Shinhan Bank has tapped the Australian dollar market with a three-year two-tranche transaction managed by Macquarie and TD Securities. The A-A1 rated issuer priced the A$150 million fixed-rate tranche to pay a coupon of 6.875% and the A$250 million floating rate-tranche to pay BBSW plus 30bp quarterly.

The deal priced at the wide end of the 28bp-30bp range because it was ShinhanÆs first foray into the market and Kangaroo investors...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: kangaroo | bond | macquarie | td securities | shinhan

Print Edition

FinanceAsia Print Edition