Shinhan returns with bond post management scandal

Shinhan Bank puts its house in order and returns to the market with a smoothly executed $500 million bond.
The pipeline of debt deals is building.
The pipeline of debt deals is building.

Korean lender Shinhan Bank early yesterday morning priced a $500 million 5.5-year bond in a successful return to the dollar bond market.

The commercial bank held investor meetings around November but the deal was put on hold following a highly publicised management scandal that erupted late last year.

Former Shinhan Bank CEO Lee Baek Soon and former Shinhan Financial Group president Shin Sang Hoon were indicted on suspected embezzlement and both stepped down in December last year. Shinhan Financial’s chairman Ra Eung Chan had already stepped down in October, after saying he opened accounts using other people's names.

Since then, the bank has filled...

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