Shinhan issues $500 million global bond

Shinhan Bank priced $500 million of three-year global bonds yesterday morning Hong Kong time. The deal, which came on the back of a non-deal global roadshow at the beginning of this month, attracted strong demand worldwide, although a sudden weakening of credit and equity markets meant that, in the end, the terms were less generous for investors than had been intended.

According to a press release from Shinhan Bank, which is part of the Shinhan Financial Group, the offering was swiftly executed on an intraday bookbuilding basis to cover Asia, Europe and US, with deal announcement at Asia open on Monday, June 22, price guidance at Europe open and final pricing at New...