New Issue: South Korea’s Shinhan Bank prices $500 million 3 7/8% notes due 2026 at 205 bps spread

By Christine Van Dusen

Atlanta, March 17 – South Korea’s Shinhan Bank priced $500 million of 3 7/8% notes due March 24, 2026 (expected ratings: Baa1/BBB+/BBB+) at 99.361 to yield 3.953%, or Treasuries plus 205 basis points, a market source said.

BofA Merrill Lynch, BNP Paribas, HSBC, JPMorgan, Mizuho Securities and Morgan Stanley were the bookrunners for the Rule 144A and Regulation S deal.

The lender is based in Seoul.

Issuer:	Shinhan Bank
Description:	Notes
Amount:	$500 million
Maturity:	March 24, 2026
Bookrunners:	BofA Merrill Lynch, BNP Paribas, HSBC, JPMorgan, Mizuho Securities, Morgan Stanley
Coupon:	3 7/8%
Price:	99.361
Yield:	3.953%
Spread:	Treasuries plus 205 bps
Trade date:	March 17
Settlement date:	March 24
Expected ratings:	Moody’s: Baa1
	Standard & Poor’s: BBB+
	Fitch: BBB+
Distribution:	Rule 144A/Regulation S

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