New Issue: Korea's Shinhan Bank sells $300 million 10-year bonds at mid-swaps plus 71 bps

By Reshmi Basu

New York, Feb. 23 - Shinhan Bank sold a $300 million offering of 10-year subordinated bonds at 99.901 to yield mid-swaps plus 71 basis points, according to a market source.

The bonds will be non-callable for five years.

Barclays Capital, BNP Paribas and HSBC managed the issue.

Shinhan Bank, based in Seoul, is a private retail bank.

Issuer:	Shinhan Bank
Amount:	$300 million
Issue:	Upper tier II subordinated bonds
Maturity:	Feb. 28, 2016
Coupon:	5¾%
Issue price:	99.901
Spread:	Mid-swaps plus 71 basis points
Call feature:	Non-callable for five years
Pricing date:	Feb. 21
Settlement date:	Feb. 28
Managers:	Barclays Capital, BNP Paribas, HSBC
Ratings:	Moody's: Baa1
	Standard & Poor's: BBB
	Fitch: BBB+

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