shinhan-mandates-four-for-new-dollar-deal

Shinhan mandates four for new dollar deal

As Shinhan submits its bid for a controlling stake in LG Card, South KoreaÆs second-largest financial services provider hires four international banks to lead its second offshore deal of the year.
South KoreaÆs Shinhan Bank has mandated ABN AMRO, Barclays Capital, JPMorgan and Morgan Stanley for a proposed dollar-denominated bond offering.

As yet the structure and overall terms of the deal are still being finalised.

In recent years Shinhan has been a regular issuer of offshore bank capital transactions, having sold into both the hybrid tier-1 and upper tier-2 spaces.

In February, Shinhan priced a subordinated upper-tier-2 offering, raising $300 million via Barclays Capital, BNP Paribas and HSBC. When that deal came to market, it came inside of initial guidance at 99.901% on a coupon of 5.75% to yield at 5.773%. That equated to a spread of 71bp over swaps or 121.5bp over...
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