As yet the structure and overall terms of the deal are still being finalised.
In recent years Shinhan has been a regular issuer of offshore bank capital transactions, having sold into both the hybrid tier-1 and upper tier-2 spaces.
In February, Shinhan priced a subordinated upper-tier-2 offering, raising $300 million via Barclays Capital, BNP Paribas and HSBC. When that deal came to market, it came inside of initial guidance at 99.901% on a coupon of 5.75% to yield at 5.773%. That equated to a spread of 71bp over swaps or 121.5bp over...
¬ Haymarket Media Limited. All rights reserved.
