shinhan-prices-second-hybrid-tier1-deal

Shinhan prices second hybrid tier-1 deal

The Korean bank brings its first deal since winning the LG Card bid and becomes the first Asian bank to have multiple tier-1 transactions in the market.
Joint book runners ABN AMRO, Barclays Capital, JPMorgan and Morgan Stanley have priced Shinhan BankÆs second hybrid tier-1 deal inside its existing tier-1 curve and in line with guidance.

The leads kicked off roadshows for the $350 million 30-year non-call 10 deal last week meeting investors in Singapore, Hong Kong, London and Frankfurt, and released initial guidance on Tuesday at the 10-year US Treasuries plus 205bp level.

Final pricing on the Baa2BBBBBB rated Reg-S only deal came at par with a semi-annual coupon of 6.817%. That equated to a spread of 205bp over comparable Treasuries or 149bp over Libor.

The A3A-A- bank now becomes the first non-Japan Asian bank...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222